Japan's Aso says that markets are overreacting to talks of a US-China trade war

Japan finance minister Aso speaks in parliament

• US trade move doesn't warrant a surge in the Japanese yen

Looks like someone isn't too happy about the surge in the yen today.

The recent surge in the yen this year has already caused enough headaches for policy makers in the country, and a further nudge higher from trade wars rhetoric isn't going to help ease those worries any time soon.

Not to forget that it will also push the BOJ further from achieving its inflation target.