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Forex - Dollar gains in Asia as North Korea missile test eyed

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Investing.com - The dollar gained in Asia on Monday with risk sentiment surprisingly mild after North Korea tested a ballistic missile at the weekend it said was capable of carrying a nuclear weapon and used solid fuel, reducing time to launch compared to liquid fuel.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, rose 0.20% to 100.92. USD/JPY changed hands at 113.88, up 0.61%, while AUD/USD traded at 0.7672, up 0.08%.

Japan's GDP grew at an annualized rate of 1.0% in the fourth-quarter, below a Reuters poll estimates of 1.1%. This week, the UK and China are to release what will be closely watched data on inflation. Meanwhile, Federal Reserve Chair Janet Yellen is due to testify to Congress for the first time since Donald Trump entered the White House.

Last week, the dollar ended little changed against the yen and the other major currencies on Friday after U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe delivered a joint statement discussing their trade relationship. At a joint news conference with Japan's prime minister, Trump avoided repeating accusations that Tokyo uses monetary policy to devalue its currency to the disadvantage of the U.S. and takes advantage of U.S. security aid.

Also last week, Trump indicted that his administration would soon reform tax policy and announce a "phenomenal" package within weeks.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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