Korean Won wants war

Korean Won wants war.

Morning review.

On Tuesday morning, August 29, North Korean dictator Kim Jong-un held a new launch of a ballistic missile towards the direction of Japan. In Japan, a warning system about the threat of a missile strike sounded.

This provides the full opportunity for U.S. President Trump to respond in the most severe way, even to a military strike - as the missile launches and North Korea's nuclear program heavily violates UN resolutions.

On Tuesday, an emergency meeting of the UN Security Council on the problem was scheduled.

Markets reacted predictably - gold rose sharply to $1,320.

The strengthening of the franc (lower USDCHF) caused a new round of growth to the EURUSD pair - in the morning to 1.2030.

Euro buying in current positions are unattractive. Selling is premature - no earlier than 1.2080 - 1.2100 with a stop not exceeding 45 pp.

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