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US president has threatened 25% duties on EU imports as well as levies on other major trading partners

US Treasuries rally as investors sell equities and seek safe assets

Japanese yen weakens after BoJ sticks to ultra-low interest rate policy

Former president’s promise of tariffs has dragged down sectors already struggling with flagging Chinese demand

Euro has tumbled as investors worry currency bloc will be on front line of trade war

Surprise outperformance driven by lack of day-one tariffs on EU and prospect of end to Ukraine war