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FOREX-Dollar hits 5-month low vs yen as North Korea tensions mount
Increasing geopolitical risks another notch, North Korea on Sunday made what was believed to be a failed missile test launch. "It is unclear whether the situation over North Korea will escalate into military action, but uncertainty is increasing and the dollar continues to edge lower. "Market reaction, if there was one, to the currency report has already faded. The euro and the pound slid to five-month troughs of 114.955 yen and 136.05 yen, respectively. The U.S. currency extended losses from the previous day and retreated to 108.135 yen, its lowest since mid-November.
Increasing geopolitical risks another notch, North Korea on Sunday made what was believed to be a failed missile test launch. REUTERS/Yuriko Nakao/File PhotoTOKYO The dollar dipped to a five-month low against the yen on Monday as rising tensions over North Korea kept the safe-haven Japanese currency in demand. "It is unclear whether the situation over North Korea will escalate into military action, but uncertainty is increasing and the dollar continues to edge lower. "Market reaction, if there was one, to the currency report has already faded. The euro and the pound slid to five-month troughs of 114.955 yen EURJPY= and 136.05 yen GBPJPY=, respectively.
collected by :John Miller
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