It is time to see just how much WWIII is priced into this market. WSJ reports that the Koreas may have just crossed the line:"North Korea fired artillery at South Korea's Yeonpyeong island in the Yellow Sea off the countries' west coast Tuesday afternoon, setting houses on fire. South Korea returned fire, according to residents on the island speaking on South Korea's YTN television network. A spokesman for South Korea's joint chief of staff confirmed the exchange but didn't have details except to say "scores of rounds" were fired by the North." The response: S. Korean military says it is on highest non-wartime alert after the North's shelling of island.
The artillery—more than 50 rounds, according to island residents speaking on YTN—was fired from positions south of the North Korean city of Haeju.
The attack started at 2:34 p.m. local time, according to residents who were speaking on the TV network. There were no immediate reports of injuries.
About 1,200 people live on the island, which is 10 kilometers south of the tip of North Korea's south coast.
The attack is the second by North Korea this year against South Korea in the maritime border area of the Yellow Sea. In March, a North Korean submarine torpedoed and sank a South Korean warship near an island about 40 miles west of the island that was hit Tuesday.
And these tidbits coming in from Reuters:
Witness says power failure on South Korean island hit by shells; Residents evacuated to bunkers
Television pictures show at least four plumes of smoke from S.korea island
Witness says shelling continues on S.Korea island, a few houses have collapsed
...This pearl:
S. Korean military says it is on highest non-wartime alert after the North's shelling of island
And let's not forget this:
S.Korea top presidential aides meeting in underground bunker at presidential compound
Reading a foreign exchange quote may seem a bit confusing at first glance.However, it is really very simple if you remember two things:
1. The first currency listed first is the base currency and
2. The value of the base currency is always 1.
The U.S. dollar is central to the Forex market and currency is usually considered the "base" for quotations. In the "Major's" (Major world Currencies), which includes USD / JPY, USD / CHF and USD / CAD.
For these currencies and many others, quotes are expressed as a unit of $ 1 USD per the second currency listed in the pair. For example, quote USD / JPY 120,01 means that one U.S. dollar is equal to 120.01 japanese yen.
When the U.S. dollar is the base unit and currency quote goes up, it means that the dollar has risen in price and other currency has weakened.
If the USD / JPY quote we mentioned increases to 123.01, the dollar is stronger because now buy more yen than before.
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The Department of Defense today issued an Instruction that established the DoD Civil Liberties Program. “It is DoD policy to protect the privacy and civil liberties of DoD employees, members of the Military Services, and the public to the greatest extent possible, consistent with its operational requirements,” the Instruction states....
The North Atlantic Treaty Organization will hold its 2012 summit meeting in Chicago on May 20-21. The meeting, hosted by President Obama, will be closed to the public. The assembled heads of state are expected to discuss the future of the conflict in Afghanistan; NATO defense issues, including the possible...
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Comments
1. The first currency listed first is the base currency and
2. The value of the base currency is always 1.
The U.S. dollar is central to the Forex market and currency is usually considered the "base" for quotations. In the "Major's" (Major world Currencies), which includes USD / JPY, USD / CHF and USD / CAD.
For these currencies and many others, quotes are expressed as a unit of $ 1 USD per the second currency listed in the pair. For example, quote USD / JPY 120,01 means that one U.S. dollar is equal to 120.01 japanese yen.
When the U.S. dollar is the base unit and currency quote goes up, it means that the dollar has risen in price and other currency has weakened.
If the USD / JPY quote we mentioned increases to 123.01, the dollar is stronger because now buy more yen than before.
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