North Korea reportedly tested a newly developed intercontinental ballistic missile, capable of carrying a large and heavy nuclear warhead. Washington immediately lodged a protest and called for unified global action to hold Pyongyang and Kim Jong-un accountable for North Korea’s ongoing pursuit of nuclear weapons. The United States has called for an emergency meeting of the United Nation’s Security Council to discuss the looming threat.
A closed-door session of the 15-country forum is expected to occur later during Wednesday’s session. USDJPY was last seen around the 113.200-mark, with further downside possible should the climbing geopolitical risks heighten demand for risk-aversion assets. USDJPY has found resistance around 113.500, a failure to break above this level could see the pair slide all the way to 111.600.
Japanese Yen Gains on Safe-Haven Demand
Daily Analysis - 05/07/2017