FOREX-Yen surges, offshore yuan tumbles as trade war intensifies

The yen surged on Monday as investors flocked to safe-haven assets after a sharp re-escalation in the U.S.-China trade war, which whacked investor confidence and darkened the global economic outlook. The Swiss franc and gold, two assets sought during times of heightened risk aversion, shot up in early Asian trade. Financial markets could be in for a rough ride in the near future as investors are likely to shift money from stocks to less risky assets, such as debt, gold and safe-haven currencies.

Source: yahoo.com/news