Forex traders were seeking safe options during the current trading session after North Korea fired a ballistic missile over Japan. Safe currencies like the Swiss franc and the Japanese yen profited as a result.
North Korea launched an unidentified ballistic missile today, which fell in the Pacific Ocean after flying over Japan. Japanese Prime Minister Shinzo Abe stated after the event:
A missile passing over Japan is an unprecedented, grave and serious threat.
While such actions pose an obvious threat for Japan, experts speculated that the launch was actually aimed at testing North Korea’s capability of reaching the United States.
USD/CHF dropped as much as 1.2% from 0.9551 to 0.9433 as of 11:33 GMT today, trading near the lowest level since August 2015. EUR/CHF tumbled from 1.1440 to 1.1360.
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