Rising North Korea tensions In the last two months, tensions between the United and North Korea have continued to escalate, with both sides refusing to back down. North Korea has initiated a series of missile and nuclear tests, worsening tension in the region, and the US president has responded to these tests with strong warnings. […]
Volatility in the currency markets spiked after news of the North Korean missile launch on August 29. Demand for safe haven currencies like the Japanese yen (FXY) and Swiss franc (FXF) picked up in the Asian session.
The dollar managed to turn around from lower levels last week as risks from former FBI Director James Comey’s testimony and the ECB’s policy statement subsided.
The US dollar came into focus after the weak US jobs data on June 2. The payroll data was a negative surprise, with only 138,000 jobs being added in May.
The US dollar (UUP) has continued to lose its value with respect to its trading partners. The US Dollar Index fell 1.6% in the week ended May 26, 2017.
The Swiss franc was trading slightly higher versus the US dollar on December 1, 2015, even as the GDP reports pointed toward slowing growth in the Swiss economy.
The Chairman of the Swiss National Bank, Thomas Jordan, made a dovish statement on Tuesday, stating that the Swiss franc remains significantly overvalued.
The Swiss franc rose against the US dollar on August 28, 2015. Better-than-expected GDP (gross domestic product) figures lifted the sentiment for the franc.
