China-U.S. Feud Fuels Haven Demand as Traders Rewrite Playbook
- Yen gains, yuan, Aussie and Kiwi slide in early FX trading
- Moves come as trade tensions deepen amid retaliation threat
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Forget all the optimism that briefly reverberated through markets over trade on Friday. The weekend’s events have reshuffled the deck and traders are once again looking toward haven assets.
Fresh tweets from President Donald Trump and threats of retaliation from China mean investors can expect that the end-of-week gains triggered by the U.S. government’s characterization of the negotiations as "constructive" to evaporate quickly as various markets open up again.