What’s next? – USDJPY 25.05.18

The dollar was trading 0.30 percent higher vs the yen at 109.57 as of 06:15 GMT on Friday, with investors weighing in North Korea’s news and looking ahead to fresh reports.

The US dollar index, which measures the greenback’s strength against a basket of six major competitors, was up 0.15 percent at 93.84 by the time of this writing.

On Thursday, President Donald Trump cancelled his meeting with North Korean leader Kim Jong Un, pushing the dollar even lower and boosting demand for safe-havens such as the yen.

However, the Republican leader said it was Pyongyang’s fault due to a constant inflammatory rhetoric against the United States. Trump also said the US military forces remained in standby.

"Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time, to have the long-planned meeting," Trump said.

Meanwhile, South Korea President Moon Jae-in said via Twitter that he was "embarrassed and regretful that the North American summit was not held on June 12 that was scheduled.”

He also added that the “denuclearization of the Korean peninsular and enduring peace are historic tasks that can not be abandoned or delayed."

Earlier, the yen was supported by Federal Reserve minutes, which were not digested as positively as initially thought, lowering expectations for a fourth interest rate hike in 2018.

Ahead in today’s session, focus will be at US durable goods orders for April at 12:30 GMT. Federal Reserve Chair Powell will speak at 13:00 GMT, followed by FOMC Bostic and Kaplan at 15:45 GMT. Michigan’s consumer sentiment for May is up at 14:00 GMT.

FortFS