Tokyo's main index leads the slump among Asian stocks today
A bout of risk aversion is engulfing over markets as we look to end the week with the mood from Wall Street's poor performance overnight carrying over to trading today. Global growth concerns are creeping back in and that's not helped by headlines that Trump and Xi will not be meeting before the March deadline set for US-China trade talks.
Unless the two parties come to an agreement over the next few weeks, tariffs are set to be raised again and that will surely get investors worried that there won't be a trade resolution in the near future.
Despite that, USD/JPY is holding rather steady at 109.70 levels as it trades slightly lower on the day in a 19 pips range so far. But should the mood continue to US trading, expect more pressure to come on yen pairs in the following session.
