Today, from the very beginning of the Asian session, the yen began a sharp recovery against other currencies. The yen won back its positions by 75 points in pairs with the euro and the dollar. The reason for this was a new round of tension between the US and North Korea. President Donald Trump continues to exert pressure on North Korea in the form of sanctions. This time all ships that visited the ports of the "rogue state" will fall under 180-day sanctions. Some Chinese banks were forced to cut their money turnover with North Korea under the pressure of sanctions.
Also during the Asian session the euro slightly rose in price against the dollar, gaining about 30 points and at the moment the pair is trading near the 1.1970 mark.
Today is a rich day for news. Thus we expect to hear the speeches of the ECB head Mario Draghi, the head of FOMC Williams. Also there will be a speech of British Prime Minister Teresa Mei at which the conditions for Britain's exit from the European Union and the terms and conditions of the transition period will be discussed.
A number of basic indices for the Euro-zone, Canadian and US dollars are also coming today.
For the first time since 1999, S & P Global Ratings downgraded China's rating to A+ from AA. Moody's also downgraded China's sovereign credit rating this year.
