August 9, 2020

North Korean envoy to visit USA > 30.05.2018 Highlights

North Korean envoy

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US Secretary of State welcomes Kim Yong Chol in USA, Pyongyang’s senior official and trusted adviser to North Korea’s leader. The North Korean envoy will meet Pompeo in New York to discuss over the scheduled Singapore Summit.

The meeting between Trump and Kim Jong Un seems that will take place in June after all. Following a lot of back-and-forth, high diplomacy and threats on either side, the greatly expected Trump-Kim summit is approaching.

Trump called off the meeting by an official letter sent to the North Korean leader invoking “tremendous anger and open hostility”. However, North Korea responded that in any case they remain open to a new meeting “at any time in any way”. South Korea’s leader visited Washington to act as an intermediary to save the Singapore summit.

Trump confirmed the visit via twitter.

North Korean envoy is the most senior official formally visiting the States since 2000. Yong Chol coordinated Kim Jong Un two meetings with Pompeo. Also, along with Kim Jong Un’s sister were the only two officials to join the North Korean leader at the two inter-Korean summits.

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The US Dollar eased against its major-traded rivals and traded flat against Yen.

The Euro hovered near ten-month low. The common currency recorded losses for a fourth consecutive day over Italexit concerns. On a monthly outlook, the single currency has fallen more than 4%. It also fell 1% against Swiss Franc, which is the biggest decline since September 2017.

The Sterling corrected higher from the 6-month low against USD on Tuesday. However, it headed lower against Euro as the latter tries to recover.

Oil prices raised to $76 pb, as supplies tighten although OPEC and Russia are expected to increase their output.

Gold and silver as USD continues its rally due to Euro decrease over Eurozone instability. Analysts expect that the precious metals will climb higher as instability boosts safe-haven demand.

Sources: Reuters, Euronews, CNN Money