Japanese Yen Rallies After Trump Orders New Sanctions Against North Korea

The Japanese yen rose today as tensions between the United States and North Korea continued to escalate, making safe assets more appealing to investors.

US President Donald Trump ordered new sanctions against North Korea in an attempt to dissuade the rogue nation from performing nuclear tests. Earlier this week, he threatened to “totally destroy” North Korea. In a response, North Korean leader Kim Jong Un called Trump “mentally deranged” and threatened to take “highest level of hard-line countermeasure in history.”

USD/JPY dropped from 112.46 to 111.93 as of 10:25 GMT today, reaching the low of 111.64 intraday. GBP/JPY slid from 152.69 to 151.71.

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