Stocks Euro Rise As Shots Fired In Us-china Trade War

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LONDON – The imposition of tariffs by the United States and China on billions of dollars of trade was absorbed calmly by markets on Friday with stocks edging higher and the euro climbing a three-week peak, but concerns about the conflict escalating capped gains.

Chinese shares led a recovery by Asian market, partly helped by the perception that the tariff measures were already priced in though worries about what lay ahead for global markets boosted appetite for perceived safe-haven assets such as government debt and the Japanese yen.

“Some of it is priced in but then this is an ongoing story and what can definitively be said that we are entering a period of much greater uncertainty than before,” said Neil Mellor, a senior currency strategist at BNY Mellon in London.




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