North Korea fired mid-range missile on Sunday, puts Hawaii and Alaska within range

Over the weekend, North Korea fired a mid-range missile near Pyongyang on Sunday, with the Korean Central News Agency (KCNA) noting that the current capabilities put Hawaii and Alaska within range.

The missile flew about 500 kilometres and reached an altitude of about 560 kilometres, and was believed to have landed in water off North Korea's east coast.

As reported by Reuters: "A South Korean military official said the missile appeared to be an upgraded, extended-range version of the North's solid-fuel submarine-launched missile. The missile fired a week ago flew was liquid-fueled, and flew further."

The latest news from North Korea have virtually had no market reaction. As a reminder, last week's USD/JPY selling flows on the open after the previous launch saw the pair bounce back almost immediately, On top of that, the main focus for USD/JPY this week is likely to be a public testimony before a Senate Committee next Wednesday by former CIA Director James Comey, aimed to shed a light on whether or not US President Trump was trying to influence him over an ongoing investigation into Russia and its possible links with Trump's campaign.