Trump is said to have ordered 200B worth of tariffs on Chinese goods. That's an escalation from previous 50B - 100B clips. Risk markets understandably don't like it, and have sold off. Yen is the preferred currency so far today. USD/JPY fell below 200 DMA and 110, to as low as 109.70. We'll see if we get any follow-through as European markets open.
