The Chinese Yuan tumbled against the USD today after the spread of a pneumonia-like virus in China triggered a sudden bout of risk aversion, disrupting world markets.
Washington’s decision to impose visa bans on Chinese officials combined with adding further Chinese companies to a US-trade blacklist, has weighed on the slim hopes that both economies would potentially reach a truce at upcoming negotiations.
Overnight, financial markets all around the world fell due to increasing pressure and concern surrounding the US-China trade dispute.
In early trading today in Europe, the dollar fell against safe havens such as yen and Swiss franc, after the president announced a sharp acceleration of the US trade war with China.
Huawei has been the focus of intense international scrutiny lately, with the US and other countries raising security concerns about its products.
The impact of the US-China trade war goes beyond its primary players, resonating through the forex market.