Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
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.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.