Yen Falls As N. Korea Agrees For Denuclearization Talks
March 06 2018 - 3:01AM
RTTF2
The Japanese yen slipped against its major counterparts in the
European session on Tuesday, as sentiment improved after South
Korea confirmed that North Korean leader Kim Jong Un is open to
hold "candid" talks with the U.S. and would suspend nuclear tests,
if military threats are removed.
Both leaders will meet for a summit at the end of April along
the border, the statement said.
"North Korea has clearly expressed its intention for
denuclearlization on the Korean peninsula, and if there is no
military threat, and North Korea's regime security is promised,
they have clarified that there is no reason to hold nuclear
weapons," according to a statement.
The yen declined to 6-day lows of 147.98 against the pound,
113.48 against Swiss franc and 83.22 against the Aussie, from its
early highs of 146.55, 112.61 and 82.17, respectively.
The yen dropped to a weekly low of 131.94 against the euro and a
4-day low of 82.30 against the loonie, off its early highs of
130.60 and 81.54, respectively.
The yen reversed from its early highs of 76.68 against the kiwi
and 105.85 against the greenback, falling to 5-day lows of 77.59
and 106.46, respectively.
The yen is likely to find support around 110.00 against the
greenback, 134.00 against the euro, 116.00 against the franc,
151.00 against the pound, 85.00 against the aussie, 79.00 against
the kiwi and 84.00 against the loonie.
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