The dollar weaken North Korea continues to conduct its nuclear missile testing outweighing the Debt-Ceiling Deal

The surge of dollar

The dollar index was down in its group of 10 peers as tensions surrounding North Korea which outweighed the positive sentiments that are supposed to be brought up from an extension of the U.S. debt limit.

The Dollar Index plummeted for a sixth day of losses amid speculations that North Korea will conduct another missile launch this weekend to mark its foundation day.  The Yen also rose as South Korea stated that there isn’t much time before the North is Gully equipped with nuclear weapon, Australia’s dollar was also down as retail sales and trade balance data did not meet economists’ forecast.

The Yen hit a session high as a knee jerk reaction to South Korea’s Prime Ministers Lee Nak-yon’s statement that the North could launch another missile on Sept. 9.

The U.S. Dollar was trading lower against the yen and was pinned with a decrease of 0.1% to trade at 109.11 which is a turn up compared to its 0.3% low found earlier in the same session. Another factor the led to the USD’s drawback was its treasury yields which were lower across curves, with its benchmark dropping by 2.09%

The Dollar index measures the greenback’s performance against several other major currencies. EUR/USD trade was up by 0.1% to trade a 1.1929 in the 1.1916/35 range while the AUD/USD falls by 0.1% to trade at 0.7991 after reaching 0.7985.

The USD losses managed to trim its declines on Wednesday when President Trump and Democrats agreed to a three-month extension of the U.S. debt-limit.


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