Tuesday, 5 September 2017

What’s next? – USDJPY 05.09.17

Posted by Valentine at 12:52 Labels:

USDJPY
The dollar/yen was down 0.21 percent as of 08:40 GMT on Tuesday to trade at 109.47, as geopolitical tensions in the Korean peninsula weighed on the greenback, while boosting demand for safe-haven currencies such as the Japanese yen.
The dollar remains in a difficult position as South Korea’s Defense Minister said North Korea is already planning another test of an intercontinental ballistic missile (ICBM).
The US dollar index, which tracks the greenback against six major currencies, was trading at 92.63 by the time of this writing, easing 0.16 percent.
At an emergency meeting of the United Nations Security Council on Monday, US Ambassador to the UN Nikki Haley said North Korea is “begging for war”.
Over the weekend, North Korea conducted its sixth nuclear test, which according to local media has been a total success. The bomb detonated was hydrogen type.
Yesterday, the United Nations Security Council met to discuss the North Korean threat. US Ambassador to the UN Nikki Haley said Pyongyang is currently “begging for war”.
North Korea conducted a sixth nuclear test on Sunday, increasing geopolitical tensions. The international community is calling for an immediate cease of its nuclear and ballistic programs.
Also, traders are looking ahead to the next Federal Reserve monetary policy meeting on September 19-20. A hawkish rhetoric from Chairwoman Janet Yellen or other FOMC members could provide support for the greenback and promote a moderate recovery.
US markets were closed on Monday due to the Labor Day holiday. Today, traders will pay close attention to speeches from FOMC members Brainard, Kashkari and Kaplan as of 11:30 GMT, 17:10 GMT and 23:00 GMT respectively.

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