Flows into yen as US trade wars worsen - no deal for Mexico

A risk off environment developing, seeing flows in to the safe haven of yen.

Mexico got hit by the ratings agencies in the minutes preceding:

• Moody's changes Mexico's outlook to negative from stable
• Fitch downgrades Mexico's rating to BBB, outlook revised to stable

Then the US rubbed salt into the wounds:

• US media report there has been no deal reached between the US and Mexico in talks