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UN Votes for Watered-Down Sanctions on North Korea, Yen Drops

September 12, 2017 at 14:22 by Vladimir Vyun

Some yen notes and coinsThe Japanese yen fell against other most-traded currencies during today’s trading as the situation around North Korea were calming down, prompting Forex market participants to leave safer currencies in favor of higher-yielding ones.

The United Nations voted for sanctions against North Korea. Yet that was a watered-down version of sanctions planned by the United States initially. In particular, the USA dropped oil embargo to win support from Russia and China, who may have vetoed the resolution otherwise.

USD/JPY gained from 109.37 to 109.93 as of 14:18 GMT today. EUR/JPY rose from 130.73 to 131.42.

If you have any questions, comments or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

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