Yen Falls as North Korea Holds Nuclear Test, Launches Missiles

The yen fell from the near highest level in more than two months against the dollar after North Korea conducted its first nuclear test in three years and launched three short-range missiles, posing a threat to the region’s security.

The euro traded near the strongest in almost five months versus the dollar and rose against the pound after a report showed German business confidence in May improved for a second month. New Zealand’s dollar declined versus the greenback on concern export revenue will drop after the U.S. increased subsidies for its dairy products…

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Russia says U.S. may use satellite blast as test

satellite-blast.jpgMOSCOW (Reuters) – Russia’s Defence Ministry
said on Saturday a U.S. plan to shoot down an
ailing spy satellite could be used as a cover to
test a new space weapon.

The ministry said there was insufficient proof
that Washington’s decision to fire a missile at
the disabled satellite was to prevent a potentially
deadly leak of toxic gas as it re-entered
Earth’s atmosphere.

“In our opinion, the decision to destroy the U.S. satellite is not as harmless as it is being presented. Especially as the United States has been avoiding talks on restricting a space arms race for quite a long time,” the ministry’s information department said in a statement.

“Under cover of discussions about the danger posed by the satellite, preparation is going ahead for tests of an anti-satellite weapon. Such tests mean in essence the creation of a new strategic weapon.”

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