Aussie and Kiwi sag after North Korea missile test

Aussie and Kiwi sag after North Korea missile test

On Tuesday, the Australian and New Zealand dollars declined versus their American counterpart because market sentiment worsened reacting to a fresh missile launch by North Korea. However, market sentiment on the US dollar was also under pressure since the Jackson Hole meeting.

The currency pair AUD/USD sagged 0.55% being worth 0.7924, off last session's three-week maximum of 0.7973.

Sentiment was affected after North Korea fired another ballistic missile. It passed over northern Japan.

After that missile launch Japan, South Korea and the USA asked for a United Nations Security Council gathering. As some diplomats revealed, a meeting of the 15-member Security Council will probably take place later on Tuesday.

The currency pair NZD/USD declined 0.41% being worth 0.7227.

Meanwhile, the US dollar was still pressured after a speech by Fed Chair Janet Yellen on Friday provided no reference to monetary policy, thus disappointing some traders who had hoped Fed Chair would demonstrate rather a hawkish tone.

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