It’s a conundrum: Despite Japan being a likely target of freshly erupting North Korean ire, traders still see the yen as a safe-haven play, and they’re pushing the currency higher.
The yen has surged, with the dollar fetching as little as 109.71 yen in Asia trade, down from 110.82 overnight. The dollar/yen was at 109.88 at 11:21 a.m. HK/SIN.
That’s in stark contrast to another country likely on the North’s target list, South Korea, which saw its currency, the won, markedly drop. The dollar was worth as much as 1,137.10 won in Asia trade on Wednesday, up from as little as 1,125.37 won earlier.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.