How North Korea launching Missile over Japan affecting financial markets?

August 29, 2017

High volatility alert! North Korea has launched a missile over Japan!

How North Korea launching Missile over Japan affecting financial markets?

During the early Asian trading session it was announced that North Korea has launched a missile over Japan which disturbed markets quite heavily.

Risk-off sentiment returned back to the markets, which caused safe haven instruments to rise in demand.

Gold prices rose to the highest level since early November, 2016. On the other hand, the Japanese yen strengthened against all other major currencies, sending the USD/JPY to the lowest level in four months.

In addition to that, recently developed negative pressure continues to weigh on the US dollar, which this morning dropped to its lowest level against a basket of other major currencies in more than two and a half years.

The EUR/USD currency pair was pushed up above the level of 1.2000 for the first time since late 2014.

According to the latest reports, Japanese Prime Minister Shinzo Abe has called for an emergency meeting to be held by the United Nations and additional sanctions on North Korea could be considered.

Markets remain on alert as the outcome is still far from clear. To this end, high volatility should be in prospect.

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