Breaking news: USD/JPY down to 110.40 as Yen rally continues

The USD/JPY pair has dropped into 110.40 in early Friday trading, nudging into an early low for September as risk-off flights see Asia session traders piling into the safe-haven Yen.

Trade war angst and tariff woes have taken the wind out of investor sails this week, and the USD/JPY pair is pushing into an early low mark for September, shedding weight from a peak just beneath the 112.00 handle and setting up for a firmly bearish play into the week's end.

Further reading: USD/JPY: a case for the downside, the yen picks up repatriation flows, AKA, the safe haven bid as macro picture deteriorates