Update: While the initial reaction to the headlinews were muted, once the story hit Bloomberg wires, USDJPY snapped lower and gold jumped...
And as USDJPY fades, so stocks drop (S&P and Nasdaq now red)...
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Earlier today, Russia's deputy foreign minister Igor Morgulov warned that while there is a latent danger of an "apocalyptic scenario of developments" on the Korean Peninsula, he brought attention to the apparent "denuclearization" of the Kim regime, pointing out that North Korea’s last provocation was on Sept. 15, when it fired its second missile over Japan in as many months. The 73-day pause is the longest since a 116-day break between October 2016 and February.
That may soon be changing because according to a tweet from Michiyo Ishida, the Tokyo Bureau Chief for Channel News Asia, the Japanese government has deteced a "signal from #NorthKorea on preparation towards a ballistic missile launch according to local media"
Japanese government detecting signal from #NorthKorea on preparation towards a ballistic missile launch according to local media— michiyo ishida (@MichiyoCNA) November 27, 2017
The news has yet to be caught by the major newswires, and as a result there has been no response in either the KRW or JPY crosses, however keep an eye on this story should there be confirmation over the course of the trading day. There is also the possibility that this is merely a trial balloon by Japan's press meant to incite a nationalist mood and push through Abe's militant agenda.