- Markets kick off in risk-off mode at the start of the week following Trump’s threat to lift tariffs on Chinese imports from 10% to 25%.
In media reports, and selecting an article written in the Financial Times, "US president Donald Trump has threatened to raise tariffs on all Chinese imports to 25 per cent, sharply ratcheting up pressure on Beijing to make concessions in a make-or-break round of trade negotiations set for this week."
In a pair of tweets on Sunday:
Within the same blow to risk assets, Trump was told by aides that significant hurdles remain to reach a trade deal with China – RTRS sources.
At the time of writing:
- Yen is 0.34% higher vs the greenback.
- AUD is -0.61% down vs the greenback.
USD/JPY down to 23.6% Fibo of 2019 range:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.