Asian markets are again following US markets lower as the Hang Seng and Nikkei225 currently see losses of 128 and 83 points respectively.
The DOW was down 409 points intra-day but rallied late into the close to finish 221 points lower. Fears over further escalation in the trade war are continuing to unnerve the market but moves have been vicious, especially in the last hour of trading.
There is still buying on dips but we are starting to test key levels of support. Whilst the tone is negative at these levels, break through the 24,900 level and the markets turn particularly bearish. Sovereign bonds are being bought pushing yields lower.
I have bought GBP/USD at 1.2632, 60 pip stop, minimal risk