Yen Surges, Yuan Tumbles as Trade War Intensifies

The Japanese Yen surged on the start of the week as investors flocked to safe-haven assests after an abrupt re-escalation in the U.S China trade war, which thwacked investor confidence and darkened the global economic outlook.

The Yuan also collapsed in offshore trade, weighed by expectations of a deeper slowdown in China as the world’s largest economies exchanged barbs over trade.

Forecasts are not good for finanancial markets as investors are likely to shift money from stocks to less risky assests, like gold, debt and safe-haven currencies.