Euro fell from highest level since 30 months under action of a correction and profit taking


EUR fell against the European currency on Wednesday against a basket of global currencies, extending for a second consecutive day against the USD , with a correction and profit taking from a two and a half year high to trade again below the  1.20 USD barrier, , Amid expectations that the crisis on the Korean Peninsula will not worsen, especially after the statements made by the North Korean leader and the president of the United States.

The EURUSD pair is trading at 1.1945, from 1.1945, after opening at 1.1984, and the lowest at 1.1938.

The EUR ended yesterday’s trading lower by less than 0.1 % against the USD, the first loss in three days, due to corrective and profit taking after recording a two and a half year high of  1.2070.

The USD returned to trade again below the  1.20 USD barrier as the correction and profit taking continued for the second day in a row as investment demand on low yielding currencies declined as safe havens amid speculation that the crisis on the Korean Peninsula would not worsen, And the President of the United States.

North Korean leader Kim Jong Wan said he fired a missile on Japanese territory in protest against the annual military exercises between the United States and South Korea, in exchange for US President Donald Trump said his country was considering all options to respond to North Korea’s provocations.

Today, important economic data from Europe are out of the global market, while economic data from the United States are shifting from private sector jobs in August to economic growth in the second quarter of 2017.

The Japanese Yen is trying to climb

On the other hand, the Japanese yen is trying to rise on Wednesday, after yesterday’s drop significantly against the USD after the decline in demand for safe haven and stability of markets after the statements of both the US President and North Korea, which preaches the decline of the escalation on the Korean Peninsula.

North Korea launched a missile over Japan before it fell into the ocean in northern Japan to increase tensions in the region, but the US president accepted the order of calm that helped to fend off fears in markets that were expecting the worst amid continued escalation between the two sides.

The USDJPY is currently trading at 109.71, after opening today’s session at 109.87, to hit a low of 109.65 and hit a high of 110.01.

Asian stocks rose today to offset yesterday’s losses, helping to curb the yen as markets prepare for the US jobs report this weekend