Yields fell, stocks fell, as did the dollar in N.Y. on Friday. The announcement of U.S. tariffs on China imports was greeted with China saying it would impose matching tariffs on U.S. goods. Commodities were lower, as those markets began pricing in a full-bore trade war. EUR-USD traded between 1.1582 and 1.1627, while USD-JPY bottomed at 110.110.42 before bouncing to 110.65. USD-CAD traded to neat one-year highs of 1.3201. Cable topped at 1.3287.
[EUR, USD]