By: DailyForex.com
The Japanese Yen moved away from the recently struck 2-week peak against the US Dollar when the North Korean government said it was still amenable to settling issues with the US even after President Trump called off June's scheduled summit with Kim Jong Un. The Japanese Yen and the Swiss Franc, both deemed safe haven currencies, had seen gains yesterday as FX traders moved into the safe havens over uncertainty about the geopolitical situation between North and South Korea.
As reported at 2:29 pm (JST) in Tokyo, the USD/JPY was trading at 109.574 Yen, a gain of 0.33%; the pair had earlier hit a trough of 109.132 Yen, while the session peak is at 109.744 Yen, The EUR/CHF was trading at 1.16214 Swiss Francs, a gain of 0.01%; during the session, the pair had struck a low of 1.16125 Swiss Francs.
EUR/USD Down on Dollar Strength
In the US, the Dollar has continued to strengthen against the common currency Euro despite a decidedly dovish sounding Federal Reserve, as evidenced by the latest policy meeting minutes. The Euro is poised to record its sixth consecutive weekly declines, the longest downtrend in more than three years. Geopolitical troubles in Italy continue to weigh on the Euro.