By Mexgroup.com
North Korea Refrains from Launching a Missile. The dollar pulled away from last week’s lows against its major rivals in early Asian session on Monday, after the weekend passed without any missile tests by North Korea. The dollar index was 0.2 percent higher at 91.524, after falling to a 2-1/2 year low of 91.0 on Friday.
The Yen Edged Lower in Asia This Morning. North Korea marked the 69th anniversary of its founding on Saturday with a celebration honoring the scientists behind the massive nuclear test it conducted last week. The dollar added 0.5 percent against its perceived safe-haven Japanese counterpart to 108.38 yen, moving away from a 10-month low of 107.32 yen touched on Friday.
Euro Falls Against Dollar in Asian Trade. The euro fell 0.15% against the dollar, to $1.2018. Despite the strength of the common currency and prospects for further gains on expectations of a turn in monetary policy, the European Central Bank has signaled it is gearing up to taper its massive stimulus program. Reuters reported on Friday that ECB policymakers agreed at their meeting on Thursday that their next step would be to begin reducing its bond buying. The euro has gained more than 14 percent against the dollar so far in 2017, on track for its best annual performance in 14 years.
Gold Falls as North Korea Tensions Ease and Dollar Gains. Gold retraced while equities and indices had a strong rebound at the Asian open this morning, as North Korea refrained from launching a missile on Saturday and Hurricane Irma made landfall in Florida without catastrophic damage on Sunday.
By MEX Group Team
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