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The US dollar slumped on Friday as waning confidence in the US economy prompted investors to ditch US assets to the benefit of safe havens like the Swiss franc, yen and euro, as well as gold.
The yellow metal recorded a new all-time peak in early Asia trade, and the franc notched a fresh decade high, Reuters reports.
There has been a pronounced ‘sell US’ vibe flowing through broad markets and into the classic safe-haven assets, with the USD losing the safe-haven bid.

S&P 500 and Dow Jones rise sharply after extraordinarily volatile week as experts warn of continued turbulence
insisted his trade war with much of the world was “doing really well” despite mounting fears of recession and as Beijing hit back and again hiked on US exports to .
As the US president said his aggressive strategy was “moving along quickly”, a closely watched economic survey revealed that US consumer expectations for price growth had soared to a four-decade high.

Xi Jinping has refused to back down in China’s tariff confrontation with President Trump. But he’ll have to persuade his people that the pain is worth it.

Adam Posen, former Bank of England policymaker, compared the tactics to Johnson and Nixon refusing to back down
A leading US economist has likened with China to the Vietnam war, arguing that both sides will be caught in a quagmire and unable to find a face-saving exit.
Adam Posen, the head of the Peterson Institute in Washington and a former Bank of England policymaker, spoke to the Guardian after penning an article for the US magazine Foreign Affairs. He said Trump’s tactics had “echoes of presidents Johnson and Nixon in the Vietnam war, unable to believe that they wouldn’t win if they only upped the attacks, and unwilling to negotiate a real peace”.

The Asian American Legal Defense & Education Fund today filed arguments in the Ninth Circuit Court of Appeals in support of birthright citizenship on behalf of 78 Asian American and legal groups. They ...

The Asian American Legal Defense & Education Fund today filed arguments in the Ninth Circuit Court of Appeals in support of birthright citizenship on behalf of 78 Asian American and legal groups. They were joined by the Korematsu Center for Law and Equality and the Center for Civil Rights and Criminal Justice in opposition to Trump’s efforts to deny citizenship to all born in the United States.

More than one hundred Chinese citizens fighting for the Russian military against Ukraine are mercenaries who do not appear to have a direct link to China's government, two U.S. officials familiar with American intelligence and a former Western intelligence official said.

This blog is now closed, you can read the latest in our Ukraine coverage
Ukrainian defence minister Rustem Umerov has offered an update on talks and commitments made in Brussels, as he posted about Germany’s declaration it would offer €11bn in further military help to Ukraine up to 2029.
He said:
The deliveries from in 2025 will help us defend our skies (IRIS-T systems with missiles, PATRIOT missiles) and strengthen our positions on the battlefield (Marders, Leopards, artillery systems). Thank you, Germany, for standing by our side. Together, we will ensure a just and lasting peace in Europe.

Carmaker removes ‘order now’ buttons for Model S saloon and Model X SUV on its Chinese website amid tariffs war
Tesla has stopped taking orders in China for two models it previously imported from the US, as companies scramble to adapt to prohibitive tariffs imposed in Donald Trump’s trade war.
The manufacturer, run by Trump’s close ally Elon Musk, removed “order now” buttons on its Chinese website for its Model S saloon and Model X sports utility vehicle.

Video clips of Mao Zedong and nationalistic films are circulating as Chinese citizens and business owners consider fallout from Trump’s tariffs.

After the US president hit China with tariffs of over 100%, Beijing retaliates with higher taxes on American imports.

The latest retaliatory move matches the tariff level announced by the administration of US President Donald Trump.