Commodity News
HeadLine : Dollar steady, markets take North Korea missile test in stride
Date : May 29 2017
The dollar was steady in early Asian trading on Monday, holding well above last week's 6-1/2-month lows and taking news of Pyongyang's latest missile test in stride.The dollar index, which tracks the U.S. currency against a basket of six major rivals, was flat at 97.432 (DXY), some distance from last week's low of 96.797, its weakest since Nov. 9.The greenback edged down slightly to 111.23 yen but mostly held its ground despite a cautious backdrop that usually gives Japan's perceived safe-haven currency a lift.


North Korea fired what appeared to be a short-range ballistic missile on Monday that landed in the sea off its east coast, South Korea's military said, the latest in a series of missile tests defying world pressure and threats of more sanctions."The markets are used to news of North Korea's missile tests by now, and the dollar/yen is unlikely to move much unless there is some further escalation of the situation," said Kumiko Ishikawa, FX market analyst at Sony Financial Holdings in Tokyo.With U.S. markets closed on Monday for the Memorial Day holiday, major currency pairs were likely to tread water, with no incentive to take new positions.

Source: Investing.com
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