Euro wins as North Korea tensions rise

- By FX Markets Staff
- @FXMarkets_
- 13 Jan 2003

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The single European currency notched up a three and a half year high against the Japanese yen of 126 yen per euro last Friday (January 10), as fears of destabilisation in east Asia started the yen’s downward spiral. North Korea had announced on Thursday that it would quit the United Nations’ nuclear non-proliferation treaty.

"The dominating theme so far this year has been geopolitical concerns, and the euro has been treated as something of a safe-haven currency," said Kamal Sharma, currency

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