How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Greenback hits five-month minimum vs. yen as North Korea tensions mount
On Monday, the major American currency dropped to a five-month minimum against the Japanese yen because strengthening tensions over North Korea kept the yen in demand.
The dollar index against a basket of main currencies decreased 0.2%, hitting 100.390, suppressed due to the publication of Friday's poor American retail sales as well as consumer prices data as flight-to-safety brought American Treasury yields to five-month minimums.
The greenback extended losses from yesterday and retreated to 108.135 yen, showing its lowest value since mid-November.
The Japanese yen remained broadly bid vs. other currencies as well. As for the common currency as well as the British pound, they slid to five-month lows of respectively 114.955 yen and 136.05 yen.
Surging geopolitical risks, North Korea’s missile test drove regional tensions for the last weeks as American President Donald Trump is demonstrating rather a tough rhetorical line with Pyongyang.
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