The headline is accurate for the majors but it masks some big swings in early Monday trade.
Yen crosses plunged with USD/JPY hitting lows sub 104.50 for a fresh 2019 low.
AUD/JPY, for example, saw a big drop as combined with the drop for USD/JPY aud/USD hit lows circa 0.6690. NZD/USD lows were around 0.6342.
The moves for EUR, GBO, CAD were not so dramatic.
And, all have retraced their losses but to be barely net changed on the session now.
The Chinese yuan is an exception, it is much weaker than late Friday. USD/CNH is around 7.1530 as I update, having been as high as over 7.18. The Friday US time intensification of the trade war a big weight on the yuan..
For more, posts from earlier, read from the bottom up for chronology:
- PBOC sets USD/ CNY reference rate for today at 7.0570 (vs. Friday at 7.0572)
- US 10 year Treasuries - yield hits its lowest in 3 years
- Just waking up? Markets on the move in early trade.
- US equity futures markets open - barf bag HODLers doing well
- Offshore yuan, USD/CNH surge, circa 7.17
- Trump's weekend comments on trade war escalation - regrets, retractions, and reversals
- China's People's Daily says Trump's escalation of the tariff war is a "strategic mistake"
- Trump says Japan and the US have reached a trade agreement in principle
- Trump is serious about ordering US companies out of China and he has the power to do it
- ForexLive Americas FX news wrap: China hits back, Trump responds with more tariffs
