Trade war and Brexit were on focus. The impact of Washington and Beijing’s trade war on the European economy dominated investor sentiment. The pound sinks on Britain general election speculations.  

The long-standing trade war and the respective trade tone offer traders discomfort. In August there was a global rush to perceived safe-haven assets due to the international trade tensions.  

As Britain’s Queen Elizabeth gave the nod to Prime Minister Boris Johnson’s plan to suspend parliament, no-deal fears raise. The move limits the time Johnson’s opponents have to prevent a disorderly Brexit.

As fears about a global economic recession grow, investors are worried that the US-China trade conflict could tip the world into an economic slowdown.

Gold rose on Tuesday as uncertainty over the U.S.-China trade dispute and investors fled to safe-haven assets. The Japanese Yen may strengthen further if trade tensions continue to escalate.