Friday Trades: EUR/USD, USD/JPY, and Gold
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
Chinese key banks cease services for North Koreans
China's Big Four state-owned banks have already ceased providing financial services to new North Korean customers, amid American worries that Beijing hasn’t been tough enough as for Pyongyang's recent nuclear tests.
Tensions between America and North Korea have inched up after the sixth and mightiest nuclear test conducted by the isolated regime on September 3 enabled the United Nations Security Council to impose fresh sanctions on Tuesday.
Chinese financial institutions have been heavily criticized for their decisive role as a conduit for funds flowing to and from North Korea.
China Construction Bank has absolutely prohibited business with the isolated regime, as some sources revealed. The ban was officially imposed on August 28.
Irritated that China hadn’t done more to tame North Korea, the Trump administration was considering fresh sanctions in July on small Chinese financial institutions as well as other companies doing business with North Korea, as two senior US officials disclosed.
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