Swiss Franc Consolidates After Rallying Hard on North Korea Tensions

Dollar and South Korean Won Slip Amid North Korea Tensions

Dollar and South Korean Won Slip Amid North Korea Tensions

"This situation is beginning to develop into this generation's Cuban Missile crisis moment, with recent leaked intelligence reports alleging that North Korea now has miniaturised its nuclear warheads, which extends the range of its missiles, and potentially brings US targets into reach", ING's chief Asia economist Robert Carnell said in a research note on Friday.

The yen gained around 0.2 percent in Asian time as investors took their money out of higher-yielding currency plays following another warning from President Donald Trump to Pyongyang.

These funds then begin to make their way towards gold, dollar, yen and the swiss franc as these are considered to be safe havens.

The post Russian Federation and Germany weigh in on North Korea war rhetoric appeared first on PBS NewsHour.

Worries about increased U.S. It was the biggest percentage loss since mid-June. 'Pretty remarkable, perhaps even extraordinary, considering, ' said Tim Ash, strategist at fund manager BlueBay. Shanghai Composite Index fell 0.7 percent to 3,238.53.

Financial stocks underperformed after U.S. Treasury yields fell as bond prices rose in Wednesday's flight to safety.

"When investors are optimistic to the extreme, it means that most of their money is already in the market and there's no more money coming in", Bruce Bittles, chief investment strategist at Robert W. Baird & Co in Sarasota, Florida.

"It looks like it was used as a good excuse to adjust positions", he said, referring to the latest flare-up of tensions between the United States and North Korea.

A Reuters Datastream index of more than 7,000 stocks across the globe saw its market capitalisation drop from a record high US$61.36 trillion on Monday to US$60.43 trillion at the close on Thursday.

The Japanese yen strengthened by 0.5% to about 109.70 per dollar.

The pan-European FTSEurofirst 300 index lost 1.01 per cent and MSCI's gauge ofstocks across the globe shed 0.26 per cent for a weekly loss of 1.6 per cent, the largest since the week to November 4. They have soared over 2 percent in the previous two sessions, and are set for a weekly gain of 2.26 percent.

The price of gold also surged for the second day in a row as the December bullion contract advanced US$10.80 to US$1,290.10 an ounce.

Crude futures meanwhile extended losses on fears of slowing demand and lingering concerns over global oversupply.

Global benchmark Brent also fell 0.9 percent to $51.44, after Thursday's 1.5 percent drop.

Subdued US inflation has stirred doubts about the chances of another Fed interest rate hike this year, weighing on the greenback.

Away from the geopolitical drama, USA inflation data is due at 1330 GMT.

US crude oil futures settled almost 2 per cent lower at $48.59 a barrel, as Russian Federation considered a future output resumption and the Organization of the Petroleum Exporting Countries boosted its July production numbers.

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