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Safe-haven gold soars, tariff bombs cause market shock

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1. Currency battlefield: Japanese yen and Swiss franc become safe-haven winners
The yen soared 0.74% during the day, continuing the 0.82% rise last Friday, and the US dollar fell to 148.72 against the yen. The Swiss franc strengthened by 0.3% at the same time, and the US dollar fell to 0.8783 against the Swiss franc, forming a horn trend between the two traditional safe-haven currencies. In sharp contrast, the Australian dollar and the New Zealand dollar fell by 0.3% and 0.4% respectively, but have now recovered their losses.
2. Gold and US bonds: the last refuge for funds
Gold shocked the market with three consecutive record-breaking violent trends, and once set a new record high of US$3127.76 per ounce during the session. At the same time, the 10-year US Treasury yield plummeted 6.6 basis points to 4.18%, and the US dollar index fell 0.2% in response. Merrill Lynch analysts Rousakis and Piron pointed out in an emergency report: "Full tariffs will trigger the tail risk of a market crash and may even abnormally push up the dollar in the short term."
3. Tariff doubts: The sword of Damocles for the global economy
Although Trump claimed to be willing to negotiate on tariffs, The Washington Post revealed that he is pushing for a more radical stance. Although British Prime Minister Starmer had "productive" trade negotiations with Trump, and the pound rose 0.22% to $1.2958, Attrill said bluntly: "Even if the details are announced on Wednesday, market uncertainty still lingers like a ghost. "
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