Early Friday morning in Asia, South Korea media, Yonhap, relied on North Korean main newspaper, the Rodong Sinmun, while saying that the two projectiles fired the previous day were tested under the leader Kim Jong-un’s guidance.
Key quotes
“On Thursday, South Korea’s military said the North fired two projectiles from what is presumed to be a super-large multiple rocket launcher from Yeonpo in the country’s eastern South Hamgyong Province toward the East Sea.”
“The North’s main newspaper, the Rodong Sinmun, said the Academy of Defence Science conducted the drill for the final review of the launcher’s capability. Kim expressed ‘great satisfaction’ over the test results.”
“It marked the 13th major weapons test North Korea conducted this year, and the fourth test of its super-large rocket launcher system, which is presumed to be a 600-millimeter diameter one. The North previously tested the weapon on Aug. 24, Sept. 10, and Oct. 31.”
“The latest projectiles were fired within a 30-second interval and flew around 380 kilometers, reaching a maximum altitude of around 97 km, according to the Joint Chiefs of Staff.”
FX implications
Amid the on-going risk-off trade environment, news like this should negatively affect the sentiment and help the safe-heavens. That said, the lack of momentum by the press time seems to have confined the market’s reaction.
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