Yen weakens vs US dollar after North Korean statements

Posted 25 May, 2018

At the end of the week, the Japanese currency has decreased vs the US dollar after reaching a 2-week peak, driven by the reports from North Korea. The North Korean representatives stated that their leader was still open and ready to settle the conflict with Washington even after the US President had canceled the meeting with Kim Jong-un. 

With the accommodative statement of the vice minister of North Korea's Ministry of Foreign Affairs, the yen decreased to some 109.52 today.

The recent hikes of the yen are probably related to the recent move of Donald Trump, who canceled the meeting the North Korean leader citing heavy angry and hostility in the latest statement of Pyongyang. Moreover, Trump added that the US army is ready to repel any harebrained moves of North Korea.

The US Dollar index went up to some 93.83.

The European currency decreased to $1.1707, and further weakening is possible in the pair with the greenback taking into account slower economic upturn in the euro-area.

Negative dynamics was also posted by the sterling. The sterling-to-US dollar exchange rate dropped to 1.3359 given that the annual UK economy remained at 1.2%. 

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