Japanese Yen Gains After North Korea Performs Another Missile Test

The Japanese yen rallied against its major peers today after North Korea performed yet another missile launch test. It looks like markets have calmed by now as the currency trimmed its gains.

North Korea claimed that is has performed its first successful test of an intercontinental ballistic missile. The news caused concerns among the country’s neighbors and even led to speculations that North Korea may be able to strike the United States. As it usually happens, safe haven assets, like the yen and gold, profited from fears.

USD/JPY was down from 113.35 to 112.73 intraday before trading at 113.24 as of 12:15 GMT today. EUR/JPY opened at 128.81, fell to the daily low of 128.03, but rebounded to 128.54 later.

If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *