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US dollar hits 4-month low vs yen after North Korea ballistic missile launch

[TOKYO] The US dollar dropped to a four-month low against the yen early on Tuesday after the Japanese and South Korean governments said North Korea had fired a missile that passed over northern Japan.

The US dollar was down 0.5 per cent at 108.725 yen after hitting 108.330, its lowest since April 18.

The greenback was already on the defensive, particularly against the euro, after Federal Reserve Chair Janet Yellen did not mention monetary policy at a central bankers' summit in Jackson Hole last week, and as European Central Bank President Mario Draghi's held back from talking down the euro at the same meeting.

The euro was down 0.1 per cent at US$1.1965 following an ascent to US$1.1986, its highest since Jan 2015.

REUTERS

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