Currencies have been on yo-yo strings in the past several hours. However, as of midday in Asia, the U.S. dollar was up against a basket of its biggest rivals, although not as strong as it was early on Tuesday.
China's central bank protected the yuan by setting the strongest fixing since early November. Considering China has been a particular focus of Trump's tariff warnings though, analysts said prolonged strength seems unlikely.
The euro and sterling were off about 0.3% each, while the yen strengthened. The Japanese currency was buoyed by bets for policy tightening by the Bank of Japan on Friday, despite some worries about the impact of any U.S. levies on the auto industry.
Meanwhile, Trump's meme coin soared to more than $10 billion in market value, helping to lift other cryptocurrencies along with it. That included bitcoin , which pushed to a new all-time high above $109,000, although it was back below $102,000 in the latest trades.
On Europe's economic calendar today, Britain releases jobs data and Germany has the ZEW sentiment surveys.
EU finance ministers are meeting in Brussels to discuss how to improve competitiveness.
ECB Vice-President Luis de Guindos joins the ECOFIN meeting, also in the Belgian capital.
No Fed speakers are scheduled for this week, with officials in a blackout period ahead of next week's policy meeting.
