* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
* Yen edges higher on risk aversion
* Focus shifts to Chinese markets open
* Traders brace for drawn-out trade war
By Stanley White
TOKYO, Sept 2 (Reuters) - The yen rose on Monday, driven by
appetite for safe-haven assets as Washington and Beijing imposed
additional tariffs on each other's exports, adding to the gloom
hanging over the global economic outlook.
Gold, which tends to be bought with the yen during times of
economic uncertainty, also rose on Monday by the most in almost
a week as investors were drawn to so-called risk-off trades.
In offshore trade the Chinese yuan fell toward the lowest
since international trading in 2010 in a sign of concern about
China's slowing economy.
Investors will closely monitor China's stock markets and how
the People's Bank of China fixes onshore yuan trading in Asian
morning trade as a broader gauge of risk appetite, an important
factor behind market swings in recent weeks.
"The tariffs suggest we are not going to see a very
market-friendly open this week," said Rodrigo Catril, senior
foreign exchange strategist at National Australia Bank in
Sydney.
"There are a lot of risk events this week from U.S. and
Chinese economic data, which should help us see who is hurting
more from the trade war, but we don't think a solution is
imminent."
The yen rose around 0.1% versus to dollar JPY=EBS to
106.13 early in Asian trading.
Against the antipodean currencies, the yen rose around 0.2%
to 71.42 versus the Australian dollar AUDJPY= and advanced
around 0.2% to 66.88 per New Zealand dollar NZDJPY= .
Spot gold XAU= rose 0.6% to $1,529.04 per ounce.
The offshore yuan traded at 7.1780 yuan per dollar CNH=D3 ,
down about 0.23% in early Asian trade. The offshore yuan slumped
to a record low of 7.1850 on August 26.
The United States slapped 15% tariffs on a variety of
Chinese goods on Sunday - including footwear, smart watches and
flat-panel televisions - while China imposed new duties on U.S.
crude.
Data scheduled for this week include surveys on
manufacturing and services in both the United States and China.
The U.S. will also release data on its trade balance and
non-farm payrolls.
U.S. President Donald Trump said the sides would still meet
for talks later this month, but hopes for a resolution to the
trade war have diminished. Trading could be subdued as U.S. financial markets are
closed on Monday for the Labour Day holiday.
The dollar index =USD against a basket of six major
currencies fell 0.03% on Monday to 98.804.
Risk sentiment could also take a hit due to ongoing protests
in Hong Kong over China's rule of the city.
Thousands of protesters blocked roads and public transport
links to Hong Kong airport on Sunday in a bid to draw attention
to their fight for democracy. The euro stood at $1.0993 EUR=EBS , up 0.02% so far in
Asia, while sterling traded at $1.2156 GBP=D3 , down 0.08%.