Yen jumps after North Korea missile while U.S stock futures tumble

Geopolitical tensions along the Korean peninsula are again heightened, after North Korea fired missile over Japan. U.S stock futures and Asian shares tumbled while the yen climbed following this report and worries of fresh tension between Washington and Pyongyang. Japan Nikkei fell 0.9 percent and the MSCI index dropped 0.7 percent. The yen added 0.8 percent to reach 108.33 in early trading against the dollar despite the proximity of the missile test. The yen tend to benefit from such geopolitical upheavals because of the assumption that Japanese investors will repatriate funds should a crisis materialize.

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