Won't be a full blown trade war & if NFP strong USD/JPY to 108

A response to the US President's latest in the trade war (additional $100bn in tariffs on Chinese imports)

This from SBI Securities in Tokyo (via Bloomberg)

• USD expected to be supported
• Expectations are there won't be a full-scale trade war
• USD/JPY toward 108 if U.S. jobs data show the economy is strong

Here is the Trump news from earlier ICYMi:

1. Trump has instructed Treasury to consider another $100bn of tariffs on China
2. Yen up, AUD down: President Trump issues order to consider MORE tariffs on China
3. $50bn in tariffs to $150bn ... Trump triples down
4. If everyone could just quieten down a little please, cable is trying to sleep
5. Heads up - why to expect a delayed response from China on the latest trade war escalation

And, if you are awaiting the NFP later, some what to expects:

• Non-farm payrolls preview: By the numbers
• Goldman Sachs NFP preview (if TL;DR .... +276K, 4%)
• Too early for a US NFP preview? Nah ...