Greenback goes down in Asia as NKorea sanctions fall short

Greenback goes down in Asia as NKorea sanctions fall short

On Tuesday, the evergreen buck declined in Asia because market participants noted the impact of the fresh UN sanctions on North Korea for its missile and nuclear test turned to be weaker than expected and that political risk was still a firm regional concern.

The currency pair USD/JPY reached 109.30, sliding 0.09%. At the same time AUD/USD hit 0.8013, descending 0.17%.

Gauging the greenback’s value versus a trade-weighted basket of six crucial currencies, the US dollar index edged down 0.08% being worth 91.58.

Australia unveiled August’s NAB business confidence reading was 5, the NAB business survey hit 15, versus respectively 12 and 15 in July.

Overnight, the evergreen buck edged up versus a basket of key currencies, underpinned by a steep dip in demand for safe-haven currencies because geopolitical uncertainty relieved after North Korea stood away from conducting another nuclear test over the weekend as previously anticipated.

 

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