US President Donald Trump has been accused of declaring war on North Korea, after his warnings at the United Nations. The North Korean Foreign Minister, Ri Yong Ho, made remarks last night, that North Korea would be within its rights to shoot down US warplanes, even if they were not in the North Korean airspace. Washington have denied the accusations, stating the ‘suggestion of that is absurd.’ The potential threat of war saw a gain in safe havens currencies.
Trump has expanded the US’ travel ban to include North Korea, Venezuela and Chad. As North Korea has not co-operated with the US government in any way, all travel from North Korean citizens to the US has been banned, whilst Chad has been added to the list for not sharing terrorism-related information. The Venezuela ban only applies to government officials and their family members. Sudan, one of the original countries from the list has now been removed.
The US will remain the focus of today, starting with the release of the CB Consumer Confidence report, which is expected to post slightly lower than last month at 119.6. FOMC member, Lael Brainard, will be delivering the opening remarks at a Federal Reserve Board Conference. Also speaking this afternoon is Fed Chair, Janet Yellen, who will be delivering a speech titled ‘Inflation, uncertainty and monetary policy’ at the National Association for Business Economic Annual Meeting.