The Japanese Yen is just easing off earlier peaks versus the US Dollar; the Yen earlier hit a 4-month peak after a missile fired from North Korea passed over Japan, only the latest provocation by North Korea which has increased regional tensions. Safe haven currencies, including the Japanese Yen and the Swiss Franc, are often sought during geopolitical stress. The Yen, especially, benefits given Japan’s status as the largest creditor nation and based on the assumption that Japanese investors, in the event a crisis materializes, will repatriate funds.

As reported at 11:52 am (JST) in Tokyo, the USD/JPY was trading at 108.831 Yen, easing off the session low of 108.328 Yen, well off the pair’s session peak of 109.276 Yen. The EUR/JPY is trading at 130.28 Yen, down 0.05%. The USD/CHF was trading at 0.9533 Swiss Francs, moving away from the session low of 0.94960 Swiss Francs.

Euro Struggles for Traction

The greenback continues to be weighed down against the common currency Euro as investors gauge upcoming monetary policies between the Federal Reserve and the European Central Bank. Janet Yellen, the Chairman of the Fed, failed to speak of monetary policy at this past weekend’s central bank symposium while the ECB’s Mario Draghi refrained from discussing the consequences of an appreciating Euro. The EUR/USD is currently at $1.1965, down 0.12%; the pair earlier hit a high of $1.19869.