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The yen climb higher vs. the dollar and the euro following the nuclear test from North Korea

The U.S. dollar weakened against its Japanese counterpart on Monday morning. It dropped more than 0.3 percent against the yen closing at ¥ 109.22 it stood at 109.87 on the previous trading day. Euro was also sluggish versus the yen as it edged lower by 0.2 percent closing at ¥ 130.59.

Following a powerful nuclear test from North Korea, investors reduced their exposure to risky assets and decided to go long on the safe-haven yen.

Pyongyang said the nuclear test was a hydrogen bomb that can be installed on a long- range missile. As a response, U.S. President Donald Trump threatened cut off trade with any nation that does business with North Korea.

Gold edged up after North Korea’s nuclear tests led to safe-haven buying

The price of gold reached its highest level since November 9 on Monday. This was after investors shifted to safe-haven buying following the nuclear test from North Korea.

U.S. gold futures advanced by 0.8 percent to settle at $1,340.90 an ounce for its December delivery. Spot gold was also 8 percent higher to close at $1,335.31 an ounce as it hit a 10-month high during the day.

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