Safe Haven Demand Remains Strong Over US-China Trade Tensions - Forex News by FX Leaders

Safe Haven Demand Remains Strong Over US-China Trade Tensions

Posted Monday, May 13, 2019 by
Arslan Butt • 1 min read

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.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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