{"id":111937,"date":"2017-08-30T07:30:20","date_gmt":"2017-08-30T11:30:20","guid":{"rendered":"http:\/\/countingpips.com\/?p=111937"},"modified":"2017-08-30T07:06:10","modified_gmt":"2017-08-30T11:06:10","slug":"eurusd-buyers-closing-their-long-positions","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/08\/eurusd-buyers-closing-their-long-positions\/","title":{"rendered":"EURUSD: buyers closing their long positions"},"content":{"rendered":"
August 30, 2017<\/div>
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By Gabriel Ojimadu, Alpari<\/strong><\/p>\n

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Previous:<\/strong><\/p>\n

Geopolitical tensions in the Korean Peninsula have generated increased interest in safe haven assets among European investors; most notably the Swiss franc, Japanese yen, and gold. During yesterday\u2019s European session, the euro\/dollar pair reached the 1.2070 mark, its highest level since January 2015.<\/p>\n

The safe haven rally was halted in the US session. By the end of the day, exchange rates had returned to their opening levels in the Asian session. Pressure on investors subsided as US president Donald Trump gave a more measured response to North Korea\u2019s provocation, without resorting to threats. Trump is currently more focused on rebuilding the areas devastated by Hurricane Harvey.<\/p>\n

The US proposed a statement to the other members of the UN Security Council condemning North Korea\u2019s missile test on Tuesday. The statement, approved by the UN, calls on North Korea to halt its nuclear program and to refrain from any future missile tests or other such provocations. The statement contains no threats of further sanctions relating to this matter.<\/p>\n

The situation on the Korean Peninsula remains tense, but the rhetoric from the US seems to have calmed investors, who have started abandoning the safe havens. The greenback received an additional boost from a strong US consumer confidence index, which hit a new 5-month high.<\/p>\n

US 10Y bond yields fell to 2.08% before correcting to 2.14% by the end of the day. The euro\/dollar pair fell by 123 pips to 1.1943. Now we\u2019ll take a look at what kind of impact the missile launch and investor activity have had on the hourly chart.<\/p>

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