Risk-aversion remained the main underlying theme in Asia this Thursday after Trump brought in fresh tariffs on auto imports while North Korea threatened to call-off the June Summit.
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Sterling is trading up 0.2% at around 1.3370 against the US Dollar ahead of the UK retail sales that are expected to rise 0.7% m/m in April, after falling lower sharply in March. The GBP/USD fell as low as 1.3305 on Wednesday after the UK inflation decelerated above expectations confirming the dovish stance of the Bank of England.
The US Dollar is trading down 0.6% at around 109.50 against the Japanese Yen as the risk-off mood hits markets with shadows of protectionism and possibly new tariffs haunting the markets.