Why does a missile launched over Japan cause traders to buy the Japanese Yen?
EUR/USD Inches Towards 1.20, North Korea Drives Yen and Gold
•The DXY Dollar Index extended Friday's bearish break to trade lows not seen in over a year, but motivation was less clear •While the Greenback did slip broadly, EUR/USD was the only major pairing offering real progress - with Euro far more active •Where risk trends were generally stagnant through Monday, an afterhours North Korea launch charged anxiety This week opened to equal parts great expectations and deep skepticism. Through last week's close, the EUR/USD posted a break to more than two year highs that strong-armed the Dollar Index to the cusp of a definitive break. And yet, a convincing break from the ... (full story)