U.S. President Donald Trump new tariffs on China sent a shockwave through global markets after he announced the 10% tariffs on another $300 billion in Chinese goods starting 01 September 2019.
ECONOMIC NEWS: Japan monetary base was up 3.7% on year in July, coming in at 516.014 trillion yen, the Bank of Japan said on Friday. That's down from the 4% gain in June. Banknotes in circulation rose 2.8% on year, while coins in circulation gained an annual 2.3%. Current account balances advanced 3.9% on year, including a 3.5% jump in reserve balances. The adjusted monetary base fell 1.0% on year to 509.703 trillion yen.
CURRENCY NEWS: The Japanese yen strengthened against the US dollar on Friday. The Japanese yen, seen as a safe-haven currency amid global turmoil, saw strong gains against the dollar from the 109.2 handle yesterday. It last traded at 107.03.
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