As the China-US trade conflict appears to be moving into a less volatile stage, the markets’ mood has turned more risk-on, impacting traditional safe-haven assets. The Yen in particular, is on a losing streak, experiencing its 4th consecutive day of losses against the US Dollar. Investors are feeling encouraged by the latest developments, as China exempted several US goods from tariffs and President Trump reciprocated by delaying by 2 weeks tariff hikes on Chinese imports. These are symbolic gestures, rather than substantial developments within the context of the ongoing commercial conflict, between the 2 economic superpowers; but, at least for now, enough to lift the mood in the markets.
