1. JPY Slips After N.Korea Remains Open To U.S Talks
The Japanese Yen slipped from 2-week high against the dollar this Friday morning after North Korea stated that it was open to resolving issues with the U.S. It is important to note that U.S. President Donald Trump has called off a June summit with Kim Jong Un. Although the yen and the safe-haven Swiss franc had gained on Thursday in response to heightened worries after the U.S. – North Korea summit was cancelled, investors cashed in gains after N.Korea kept an open stance towards future talks.*
2. Oil Prices Tumble As Russia Warns Of Gradual Output Increase
Oil prices dipped this morning after Russia hinted it may gradually increase output. It is worth noting that Russia has been withholding supplies since 2017 together with producer cartel OPEC. U.S. West Texas Intermediate (USOIL) crude futures were last seen trading at $70.42 a barrel, down 29 cents or 0.4% as of 7:20 GMT. Russia has been entertaining a potential end to the production cuts, with energy minister Alexander Novak stating on Thursday that restrictions on oil production could be gradually eased if OPEC and non-OPEC countries see the oil market balancing in June.**
3. Bitcoin Slips On Crypto Manipulation Probe
Bitcoin prices slipped this Friday morning amid reports that the U.S. Justice Department had launched a criminal probe into cryptocurrency market manipulation. Bitcoin (BTCUSD) was last seen trading at $7,410.2 at 7:20 GMT down 3.3% in the last 24 hours. It should be noted that bitcoin rivals such as Ethereum, EOS and litecoin gained ground this morning.***
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*Please note that this article is not meant to be construed as investment advice or suggestion of an investment strategy with respect to any financial instrument.
*Sources: Reuters, CNBC, Investing