Over the weekend we've seen a number of retaliatory measures against the US.
The strongest measures have been introduced by Canada.
With Mark Carney, former Governor of the Bank of England, taking over as PM, expect him to present a show of force.
Talk of taking US products off shelves and tit for tat tariffs being imposed means there's some digging in going on.
All of this has a knock on effect to both equity and currency markets.
Equity markets have generally responded negatively, and currency markets have been a volatile mixed bag.
The big loser so far has been the crypto markets, although that has also been affected by the North Korean crypto hackers cashing out $300m of a $1.5b heist.
Today sees a fairly quiet day for scheduled economic news.
The Bank of England quarterly report and UK retail sales numbers at midnight are the highlights.
Business news centres on the global trade wars as expected.
UK 12:00 Bank of England Quarterly Report
UK: Tuesday 00:01 BRC Like for Like Retail Sales
As ever we look forward to keeping you in the loop and look out for our next update.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.