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Japan’s yen was firmer against the dollar in early Asia trading on Thursday after Prime Minister Abe confirmed he had spoken with Donald Trump about the latest missile launch by North Korea, while South Africa’s rand appeared to have found a floor following a late Wednesday dip.

The yen was trading 0.2 per cent firmer at ¥110.47 per dollar, the strongest level since Tuesday after Mr Abe was reported by Reuters to have said he had agreed in a phone call with the US president that North Korea’s latest ballistic missile launch was a “serious threat”.

Meanwhile South Africa’s rand was firmer by the same amount in the morning Asia session at 13.7733 per dollar, having pared losses from Wednesday, when it weakened as much as 1.8 per cent. The currency is 2.7 per cent softer against the greenback in the week so far.

Copyright The Financial Times Limited 2017. All rights reserved.

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