US-China trade tensions have returned to the spotlight, and we discuss the economic impact from both perspectives as markets await the news on whether we will see further escalation or a softening in tone. In Europe, the UK remains in focus ahead of two significant event risks coming into view, with the Bank of England meeting on 6 November and the budget on 30 November. Yujiro Goto, Head of Japan FX Strategy, outlines the latest political developments in Japan, the market impact and the paths ahead. Chapters: Japan: 02:34, China: 08:58, Europe: 15:30, US: 21:50.