Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - Yen broadly higher on North Korea tensions

Published 08/09/2017, 03:51 AM
Updated 08/09/2017, 03:51 AM
© Reuters.  Yen broadly higher on North Korea tensions

© Reuters. Yen broadly higher on North Korea tensions

Investing.com - The yen held gains against the dollar and the euro on Wednesday after rising overnight as tensions on the Korean peninsula escalated, bolstering safe haven demand.

USD/JPY was at 109.88 by 03.49 a.m. ET (07.49 a.m. GMT) after falling to a two-month trough of 109.75 overnight.

Market sentiment was hit after North Korea said on Wednesday that was looking at plans for a missile strike on the U.S. Pacific territory of Guam; just hours after U.S. President Donald Trump warned Pyongyang that any threat would be met with "fire and fury."

Trump was responding to reports that North Korea had produced a miniaturized nuclear weapon that can be carried on its intercontinental ballistic missile.

EUR/JPY touched a two-week low of 128.71 overnight. It was last at 129.06.

The traditional safe haven Swiss franc was also higher against the dollar and the euro, with USD/CHF down 0.6% to 0.9684 and EUR/CHF losing 0.57% to trade at 1.1383.

The euro was little changed against the dollar, with EUR/USD at 1.1753.

The euro ended Tuesday’s session down 0.36% against the dollar after data showing that U.S. job openings surged to a record in June reinforced Friday's solid employment report.

The U.S. dollar index, which measures the greenback’s strength against a trade- weighted basket of six major currencies, was a touch lower at 93.42.

The risk sensitive Australian and New Zealand dollars were also weaker.

AUD/USD was down 0.42% to 0.7880 while NZD/USD slid 0.16% to a three-week low of 0.7317.

The kiwi remained on the defensive ahead of the Reserve Bank of New Zealand’s meeting on Thursday, when it is widely expected to hold rates steady at record lows.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.