The euro gave up some gains on Tuesday afternoon, slipping below the $1.20 mark to $1.1991, after breaking through the psychological barrier earlier. The ICE U.S. Dollar Index , which measures the buck against six rival currencies, clawed back some of its losses, moving to 92.2450, leaving it flat on the session. The euro represents more than half of the weighting of the ICE’s dollar index. Currencies considered havens, such as the Japanese yen and the Swiss franc , surged against the buck in flight-to-safety bids following North Korea’s first missile launch in Japanese airspace since 2009, rattling investors’ nerves and heightening already simmering tensions between the Pyongyang and U.S. allies near the Korean Peninsula. The greenback most recently bought ¥109.45, compared with an intraday low of ¥108.27, the lowest point since November 2016, while it fetched 0.9536 francs versus a low of 0.9429 earlier.
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