The yen surged on Monday as investors flocked to safe-haven assets after a sharp...
TOKYO - The yen surged on Monday as investors flocked to safe-haven assets after a sharp re-escalation in the U.S.-China trade war, which whacked investor confidence and darkened the global economic outlook.
The Swiss franc and gold, two assets sought during times of heightened risk aversion, shot up in early Asian trade. “The fact that the offshore yuan is down this much shows speculators have gotten a little wild. The trade war is driving all these moves, and I don’t see this ending anytime soon.”
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