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Yen, gold firmer after North Korea missile launch

Havens were gaining on Friday in the wake of North Korea’s latest missile launch, the second fired over Japan and into the Pacific Ocean.

The yen was 0.2 per cent firmer at ¥110.05 and was the best-performing currency in Asia trading, having briefly strengthened as much as 0.6 per cent to ¥109.56 immediately following the launch.

Gold had firmed 0.2 per cent as well to $1,331.80 per ounce.

US officials had expected North Korea to retaliate after the UN passed a new package of sanctions targeting the reclusive nation, which, combined with an early round in August, mean that 90 per cent of North Korean exports are now under sanctions.