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  • 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: