Investors may pile into the yen even more aggressively during bouts of risk aversion as the global trade outlook gets choppier. With talks between China and the U.S. taking a turn for the worse, the yen’s “beta to risk” is likely to become stronger, TD Securities foreign-exchange strategist Mazen Issa wrote in a note Monday. That relationship between the yen and risk “has not been as strong as has been the case in the past, but we expect this to be rekindled as equity markets should adjust meaningfully lower.” Rising U.S.-China tensions and tumbling stock prices have helped push traders toward traditional haven ... (full story)