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Increased saber rattling between North and South Korea pulled down the South Korean won on Wednesday as the monetary unit dove to its lowest rate in six months against the U.S. dollar, Bloomberg reports. South Korean employees have been banned from fulfilling their professional tasks in the Gaeseong industrial zone, located just north of the… Read more.
Monday saw the yen of Japan advance against its rival currencies, pushed by economic data demonstrating the East Asian nation continued a current-account surplus, according to Bloomberg. Regional tensions also proved to be beneficial for the yen as North Korea launched a rocket, which underscored the monetary unit's value as a storage haven. The U.S.… Read more.
News about the death of the leader of a communist nation in the Pacific region pulled down the monetary units of Australia and New Zealand, according to Bloomberg. But the Kiwi's losses also are attributable to worries about euro zone leaders' troubles controlling the sovereign debt crisis. The Aussie's losses to 15 of its 16… Read more.
Oxen suffering from foot-and-mouth disease in North Korea pose a serious threat to the nation since it is reliant on those animals for agriculture and the planting season begins in May, Bloomberg reports. "During the rice planting season you can see more oxen than tractors in the country," Kwon Tae Jin, a vice president of… Read more.
Gold coinage goes back to 640 BC or earlier. The metal has retained its value since, climbing to extreme highs. The market has accepted the price levels of gold without waiting for any significant dips. We have buying support from countries such as China and India. Fund Managers have added Gold to their trading portfolios. … Read more.
Fears about escalating tensions between North and South Korea sent the price of wheat futures plunging the most in the past seven days, Bloomberg reports. South Korea was the world's fifth-biggest importer of the U.S.' fourth biggest crop, but after North Korea launched artillery shells on Monday over the border and killed two South Korean… Read more.
Precious metals' prices ran the gamut as a result of strife on the Korean peninsula and a growing list of European nations struggling to navigate through the global financial crisis, Bloomberg reports. Though gold gained 0.4 percent on Monday after declining slightly more than three percent during the past two weeks, silver for immediate delivery… Read more.
Crude oil futures declined Tuesday after North Korean artillery opened fire on the South Korean island of Yeonpyeong. The North says that it was provoked by shells from the South, which the South Korean government said were fired below the naval dividing line in a training exercise. On the other side of the globe, German Chancellor… Read more.
Some precious metals' prices slipped in London as the dollar's value grew slightly stronger after missile exchanges on the Korean peninsula, Bloomberg reports. South Korea contends North Korea fired artillery shells south of the border, near the western line the countries share. South Korea's military is on high alert. "Political risk is typically a positive… Read more.