Back
10 Apr 2013
Forex Flash: North Korean missile test could be conducted today – Deutsche Bank
FXstreet.com (Barcelona) - In Korea, tensions remain high on the peninsula after reports that a missile test could be conducted by the North as early as today. Pyongyang is believed to have finished preparations for a mid-range missile launch, after it moved two Musudan missiles to its east coast last week by rail.
According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Officials in Seoul believe that North Korea could fire off a missile in the lead-up to April 15th to mark the birthday of late founding leader Kim Il-sung, the current ruler Kim Jong-un's grandfather.”
On the day however, Korean assets are better bid with the stocks trading 0.8% higher, while the Won is 0.2% firmer against the USD as markets look towards tomorrow's BOK decision. Korean sovereign CDS is broadly unchanged at around 84bp.
According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Officials in Seoul believe that North Korea could fire off a missile in the lead-up to April 15th to mark the birthday of late founding leader Kim Il-sung, the current ruler Kim Jong-un's grandfather.”
On the day however, Korean assets are better bid with the stocks trading 0.8% higher, while the Won is 0.2% firmer against the USD as markets look towards tomorrow's BOK decision. Korean sovereign CDS is broadly unchanged at around 84bp.