The Yen and Swiss Franc have gained while the Dollar bloc and many other currencies with higher beta performance characteristics, such as most developing-world currencies, have declined, albeit on relatively moderately so far. This has been concomitant with a declines in global equity markets following frosty rhetoric from both U.S. and Chinese officials. USD-JPY settled modestly lower after closing on Friday in the upper 109.00s. A low was printed at 109.59.
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