Yen, Swiss franc rise after North Korea fires missile

Yen, Swiss franc rise after North Korea fires missile

Yen, Swiss franc rise after North Korea fires missile

The emergency Security Council consultations were requested by the United States and Japan following North Korea's launch of a ballistic missile on Friday local time, which flew over Japan's Hokkaido.

The dollar weakened against most major currencies on Friday, weighed down by an unexpected decline in US retail sales last month that once again dimmed expectations for an interest rate increase in December. This report suggests inflation in the Euro zone is also on the rise.

The marketplace is so far showing a very muted reaction to the news North Korea has fired another ballistic missile over Japan.

It built on those gains on Friday after BoE policymaker Gertjan Vlieghe said "the appropriate time for a rise in Bank Rate might be as early as in the coming months".

The U.S. 10-year Treasury yield last stood at 2.202 percent US10YT=RR, having risen 14 basis points so far this week - the biggest one-week rise since June. US Fed funds rate futures yesterday were pricing in a roughly 45 per cent chance the Fed will raise rates by December, versus around 25 per cent at the start of this week.

USA stock futures pointed to a steady start for the S&P 500, which is on track for a near 1.5 per cent rise this week after another run of record highs.

"The launching drill was conducted with the aim at calming down the belligerence of the United States which has recently cried out for using military muscle against North Korea, and at bolstering up operation capability for attack and counterattack to counter it with swift and powerful military counteraction, examining the order to deal with nuclear warheads and confirming action procedure of actual war", said North Korea's official Korean Central News Agency (KCNA). It was on track for its best week against the yen since November JPY=.

In recent months, the government of Prime Minister Shinzo Abe has revived a long-simmering discussion over whether to acquire cruise missiles - which can be fired from land, air or sea - that would allow it to strike a launch site in North Korea if it detected signs of an imminent attack.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, eased 0.01% to 92.03.

Elsewhere, bitcoin slipped another 3 per cent after having tumbled 16 per cent on Thursday, when Chinese news outlet Yicai reported that China plans to shut down all bitcoin exchanges by the end of September.

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