The dollar was in retreat and havens were on the rise as European markets geared up for the open on Monday, with gold touching its highest level in 11 months in the wake of North Korea’s latest nuclear weapons test.
Gold was up as much as 1 per cent at $1,338 per ounce, its highest level in more than eleven months and exceeding the intraday high touched on November 9, 2016 in response to US presidential election results.
The Japanese yen firmed 0.8 per cent to ¥109.37 per dollar, receiving a boost in early European trading after pulling back from an early intraday high of 0.9 per cent for most of the Asia session as investors in the region digested the latest details on Pyongyang’s arsenal.
The euro was up 0.3 per cent at $1.1894, the highest level against the dollar since last Thursday ahead of Thursday’s meeting of the European Central Bank. The ECB is expected to keep its deposit rate and main refinancing rate unchanged at -0.4 per cent and 0 per cent respectively.
The dollar index tracking the greenback against a basket of peers was off 0.3 per cent at 92.569.