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On Friday, the Japanese yen was intact versus the evergreen buck, having leapt earlier as North Korea dared to fire another ballistic missile over Japan, thus spurring investor concerns over geopolitical risks.
In early Asian trade the evergreen buck declined from 110.25 yen to 109.55 yen following reports of North Korea's fresh missile launch.
Later the US currency pared its losses, and was last demonstrating 110.19 yen - nearly intact from Tuesday’s late US trade.
Japan happens to be the world's number one net creditor nation. So, at times of uncertainty investors assume that Japanese repatriation of overseas funds will overshadow foreign traders’ selling of Japanese assets.
Therefore, the Japanese yen has kept operating as a safe-haven currency notwithstanding Japan's geographical proximity to the isolated regime.
Additionally, versus another safe have, the Swiss franc, the greenback was intact, sticking to 0.9635.
On Tuesday, the evergreen buck slumped due to the fact that the key US bank started its two-day gathering, with many expecting the major financial institution to come up with a dovish outlook on monetary policy when the gathering concludes on Wednesday…
For the last week, crypto assets jumped, backed by a 25% leap in Bitcoin Cash, in contrast with a backdrop of further indications of sluggishness in fiat currencies, including the evergreen buck…
On Monday, the evergreen buck slumped to a two-and-a-half week minimum because market participants pulled back ahead of the Fed’s meeting a bit later in the week…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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