The USD/JPY is trading into 110.70 as the trade war between the US and China heats up, with the first volley of US tariffs on Chinese goods coming into effect. Markets are currently trading steadily following the tariff deadline, but traders are keeping an eye out for China's reaction. The trade war between the US and China is set to spiral out of control quickly, with US President Donald Trump stating to reporters aboard Air Force One, "You have another 16 (billion dollars) in two weeks, and then, as you know, we have $200 billion in abeyance and then after the $200 billion, we have $300 billion in abeyance. Ok? ... (full story)