Its 7.30 am in Tokyo. Forget about avocado, its AUD/JPY getting smashed

'Risk' is getting beaten down heavily in the early goings on

AUD/USD has hit under 0.6700. AUD/JPY a big decline with the lower USD/JPY also.

The Chinese yuan is also being sold heavily, USD/CNH is above 7.1800

Turkish lira down more than 5%

If you've just woken up all this is in response to moves late Friday, China raised tariffs on the US, US did the same on China. Summary here:

• ForexLive Americas FX news wrap: China hits back, Trump responds with more tariffs

Comments from Trump over the weekend did nothing to clarify things, erratic remarks:

• Trump's weekend comments on trade war escalation - regrets, retractions, and reversals