Daily News | North Korea backs off, dollar rises

As this trading week continues, the focus is still on the US – North Korea relations and some serious threats that were heard over the last few day. However, a major development occurred when North Korea announced that they would postpone launching a missile near Guam, which resulted in big gains for the US dollar. The USD went up against pretty much all other major currencies, but the Japanese yen suffered the most significant blow because this currency was considered a haven in case of a crisis. After 108.72 yen for a dollar on Friday, this number went up to 110.38 yen for a USD yesterday, marking a 0.7% increase. The euro lost ground against the dollar too, with a 0.2% drop to 1.1757 USD and the American currency also rose against the Swiss franc – 0.3%. Because of all that, it is not very surprising that the dollar index grew 0.3% as well, because this index monitors the currency’s status in comparison to six other global counterparts. All in all, it seems that North Korea started showing signs of backing down, to which the market immediately reacted. Hopefully, this whole thing will soon get back to normal, and you can be sure the prices will react accordingly. We will keep monitoring the situation and keep you posted, as we always do. 

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