Monday, 18 June, 2018

Dollar falls on concern about North Korea, Fed rate outlook

US stocks tumble amid tensions with North Korea Markets Right Now: Banks, tech lead US stocks lower
Preston Stone | 06 September, 2017, 13:54

The, which measures the greenback's strength against a trade-weighted basket of six major currencies, was at 92.23 by 03:51 AM ET (07:51 GMT).

US stock index futures were lower on Tuesday after North Korea conducted its most powerful nuclear test over the weekend, rattling investor sentiment.

The dollar fell 0.1 percent to 108.72 yen and touched a low near 108.50 yen in Asian trading.

"The situation in North Korea poses risks for the market with no clear end in sight, limiting any bargain hunting for the dollar", said Ayako Sera, senior market economist at Sumitomo Mitsui Trust.

"North Korea seems to be what gets the biggest reaction, at least over the last month or two", said Aaron Jett, vice president for global equity research at Bel Air Investment Advisors in Los Angeles.

US markets also fretted about Irma, rated as a risky Category 5 hurricane, which could reach the southern United States this weekend only days after Harvey caused damage estimated in the scores of billions of dollars in Texas and Louisiana.

VOLS beat GT in Double OT
ISU had both listed as potential starters on its official depth chart and both had time with ISU's offensive starters on Tuesday. Even though the Yellow Jackets finished last in the ACC in passing yards per game in 2016, they ranked first in yards per pass.

Markets also digested Fed Governor Lael Brainard'scomments on Tuesday that the Federal Reserve had to be "cautious about tightening policy", given that inflation was below the central bank's target. "It's partly Irma. You are looking at another possible hit to our economy", said Karl Haeling, vice president at Landesbank Baden-Wurttemberg in NY.

In Europe, markets also ended also lower, with stocks cutting morning gains and investors shifting into bonds [GVD/EUR] and the yen.

European markets had appeared largely to shrug off Pyongyang's latest test by Tuesday, focusing instead on Thursday's meeting of European Central Bank policymakers, which is expected to yield some clues as to when they will begin to scale-back monetary stimulus. Rockwell shares were up 0.87 percent.

The euro (EUR=) edged up 0.17 percent to $1.1915, while Sterling (GBP=) was last trading at $1.3029, up 0.76 percent. The Nasdaq tallied a record closing high after minting its best week of the year.

The benchmark S&P fell as much as 1.2 percent during the session, but stemmed its losses by the close. Gold futures for December delivery rose 0.4 percent to $1,335.90 per ounce, around a one-year high.

Markets were on edge amid reports that North Korea is moving ICBM missiles towards its West Coast in preparation for another test launch. US gasoline futures declined 1.34 percent to $1.6763 a gallon.

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