Swiss franc surges as Korea tensions rise

Postado Agosto 13, 2017

North Korea also laid out detailed plans of how it would launch a missile strike on US military bases in Guam (http://www.marketwatch.com/story/north-korea-details-plan-to-fire-missiles-toward-guam-says-only-absolute-force-will-work-with-trump-2017-08-09).

The Swiss franc gave up some gains (http://www.marketwatch.com/story/swiss-franc-gives-up-some-gains-as-investors-monitor-us-north-korea-standoff-2017-08-10), as the USA dollar was flat across the board.

The Swiss franc and the yen had notched up impressive gains against the dollar on Wednesday after U.S. President Donald Trump warned North Korea that it would face "fire and fury" if it threatened the United States.

The euro was 0.45 percent weaker at 129.125 yen and the Australian dollar slipped 0.7 percent to 86.66 yen. With the drop on the day, the major averages are adding to the losses posted in the two previous sessions.

ANALYST'S TAKE: "The tensions between North Korea and the U.S.is an excuse for profit-taking", Seo Sang Young, an analyst at Kiwoom Securities.

Media giant CBS rose 1.8 percent after reporting better-than-expected second-quarter earnings as it boosted subscriptions to the network's streaming services.

The dollar was down 0.53 percent against the yen at 109.48 yen, after briefly dropping as low as 109.53.

Tokyo shares closed down 1.3 percent at its lowest since June 1 while South Korea's KOSPI lost 1.1 percent.

The dollar index fell 0.05 percent, with the euro down 0.03 percent to $1.1746.

Japan is the world's biggest creditor nation and there is an assumption Japanese investors may repatriate their foreign holdings in times of heightened global uncertainty.

Sterling was last trading at $1.2998, up 0.07 percent on the day. The yield on the 10-year Treasury note held steady at 2.26 percent.

Oil prices edged higher after a report showed USA refineries processed record amounts of crude in the latest week, eating into inventories, although a surprise jump in gasoline stockpiles limited gains.

Ralph Lauren Corp. shot up 13.3 percent after reporting a net income of $59.5 million in earnings through July 1, up from a loss of $22.3 million in the year-ago period.

TORONTO, Aug 10 (Reuters) - Canada's main stock index hit its lowest close in a month on Thursday as oil prices fell and investors sought refuge in safe-haven assets amid rising tensions between the United States and North Korea. TMX Group Ltd was up 3.2 percent to C$68.02, while Quebecor Inc added 4.3 percent to C$45.20 and Canadian Tire Corp Ltd climbed 5.7 percent to C$149.89.

Prices did recover during early European trading, however, as Brent crude was last up 0.48% at $52.39 per barrel and West Texas Intermediate 0.49% higher at $49.41. Gold gained 0.54 percent to $1,266 an ounce, but that is only its highest in less than a week.

The tech-laden Nasdaq Composite Index plummeted 135.46 points, or 2.1%, to close at 6,216.87.