Greenback grows vs. yen, shrugging off North Korea missile test

Greenback grows vs. yen, shrugging off North Korea missile test

On Friday, the US dollar tacked on versus the Japanese yen, regaining its footing having tumbled when North Korea launched a ballistic missile over Japan.

The evergreen buck last traded at 110.37 yen, jumping 0.1% on the day, which is a revival from the intraday drop of 109.55 yen reached in early Asian trade on Friday when it was under pressure as the Japanese yen rallied following reports of North Korea's missile test.

On Friday, North Korea launched a ballistic missile, which made its way over Japan's northern island of Hokkaido far out right into the Pacific Ocean, as Japanese and South Korean officials told. It further spurred tensions after the isolated regime’s recent test of a mighty nuclear bomb.

While financial markets might stay jittery, the overall market reaction to North Korea's fresh missile test will most likely prove short-lived, as traders stressed.

The euro sank 0.1% hitting $1.1913, staying below a 2-1/2 year maximum of $1.2092 reach the previous week.


Volatility for the EUR is coming
Volatility for the EUR is coming

Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time

Latest news

Risk on is back on market
Risk on is back on market

The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.

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