FOREX-Yen jumps in Asia as Trump tariff threat slams risk assets

The safe-haven yen jumped in early Asian trading on Monday after U.S. President Donald Trump threatened to increase tariffs on China, sending risk assets into a spin and slamming stock futures. Trump on Sunday increased pressure on China to reach a trade deal by announcing he will hike U.S. tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon. The announcement via Twitter marks a major shift in tone from Trump, who has cited good progress in the talks and praised his relationship with Chinese President Xi Jinping.

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