Its been an active early Asian session already, the North Korea missile test dominating
It started earlier, though, with a bombshell of sort from US Treasury Secretary Mnuchin:
- More from Mnuchin: Concerned about economic growth, less concerned abut inflation
- More detail on Mnuchin's 'don't care about inflation' comment
That sent USD/JPY lower (other currencies gained against the USD also).
But, the bigger moves came an hour so later:
USD/JPY dropped lie a rock, gold higher - i.e. the usual response
USD/JPY has since bounced back (it did so very rapidly) and as I write this its circa 110.
Updates:
The path ahead? The usual move is for some sort of retracement of the USD/JPY drop in coming hours, although as I said, we've had a decent bounce from lows already.
