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USDJPY Slumps On North Korea Threat About “Next Measures”

Courtesy of ZeroHedge. View original post here.

With the USDJPY tripping 110 stops moments ago, and breaking above the key resistance level, moments ago the USDJPY and 10Y yields slumped modestly on what appears to have been the latest set of belligerent headlines out of North Korea, which appears to have taken yesterday's UNSC sanctions… badly, with attention falling on the bolded Interfax headline according to which North Korea is about to unveil a new set of "measures" which will "thrust the US into the worst predicament it has ever known":

  • NORTH KOREA AMBASSADOR TO RUSSIA SAYS NORTH KOREA HAS ONLY ONE PATH – DEVELOPMENT OF NUCLEAR FORCES: IFX
  • NORTH KOREA DEVELOPING, IMPROVING NUCLEAR WEAPONS AS MEANS TO DETER U.S. HOSTILE POLICY – NORTH KOREAN AMBASSADOR TO RUSSIA: IFX
  • NORTH KOREA ABSOLUTELY DISMISSES U.N. SECURITY COUNCIL RESOLUTIONS, THEY ARE UNLAWFUL – NORTH KOREAN AMBASSADOR TO RUSSIA: IFX
  • NORTH KOREA AMBASSADOR TO RUSSIA SAYS OUR NEXT MEASURES WILL THRUST U.S. INTO WORST PREDICAMENT IT HAS EVER KNOWN: IFX

While both rates and FX noticed the headlines, stocks are far too focused on what Tim Cook will announce in under 3 hours to care about what according to Bank of America, stocks believe is the top "tail risk", making the credibility of the BofA Fund Manager Survey just a little suspect…


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