Safe Haven Demand Remains Strong Over US-China Trade Tensions

As the Asian session began on Monday, escalating trade tensions between the US and China have driven Japanese yen higher


As the Asian session began on Monday, escalating trade tensions between the US and China have driven Japanese yen higher while the Chinese yuan and the Australian dollar weakened. The two nations have failed to make any progress in their talks and Beijing has also vowed to retaliate on the latest tariff hike.

At the time of writing, USD/JPY continues to be bearish and is trading around 109.73. Although, it is slightly higher than the three-month low at 109.47 from last week. According to reports in Chinese media, the government is open to continue discussions with the US but plans to stand its ground on certain important issues.

The US government plans to continue with the higher tariffs even as negotiations continue, until both sides agree on a favorable deal.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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