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Dollar slumps, Tokyo tanks as North Korea tensions spike
The Nikkei slumped to its lowest close for almost three months Wednesday, leading an Asia-wide sell-off sparked by President Donald Trump's apocalyptic warning over North Korea's weapons programme. Escalating tensions around Pyongyang's nuclear ambitions sent a shiver through markets worldwide and pushed the dollar to below 109.7 yen in afternoon forex trade to an eight-week low against the safe haven currency, piling more pressure on Japanese stocks. Tokyo's blue-chip index tumbled 1.3 percent to its lowest close since late May after the Dow's winning streak of nine straight records ended following Trump's sharp rhetoric of "fire and fury", with the main European bourses also opening lower Wednesday.
Guam: The paradise island that hosts nuclear bombers and is in North Korea's cross-hairs
The apparently sudden threat by North Korean dictator, Kim Jong-un, of a missile strike on the Pacific holiday paradise island of Guam is not as obscure as it first sounds. The remote 210-square mile island in the western Pacific Ocean, known for its white beaches and crystal blue waters, is also a strategic US military outpost and host to nuclear bombers and at least 6,000 US service members. On Monday night, two US B-1 bombers flew from Guam over the Korean peninsula, joining the South Korean and Japanese airforces in joint exercises that were bound to have riled Pyongyang, which over the weekend accused America of devising a “preventive war.” An aerial view of U.S. Naval Base Guam Credit: Reuters The exercises are one likely reason why North Korea, located roughly 2,100 miles away to the northwest, selected the island as a potential target shortly after President Donald Trump vowed “fire and fury like the world has never seen” in response to Pyongyang’s nuclear weapons programme. The North’s state-run Korean Central News Agency reported on Tuesday that the pariah nation’s military may send a strong message that it can neutralise military assets on the US territory. Pacific Air Forces command, based in Hawaii, upped the rhetoric shortly afterwards, declaring “US ready to fight tonight” on its official Twitter account, linking to details of Monday’s ten hour sortie. S. Dakota #Airmen arrive on Guam; conduct #bilateral missions w/Japan & ROK--U.S. ready to #fighttonighthttps://t.co/DhOTTdNT19pic.twitter.com/HSOkYKHPQ4— PACAF (@PACAF) August 8, 2017 “How we train is how we fight and the more we interface with our allies, the better prepared we are to fight tonight,” said a B-1 pilot, quoted in an official press release. “The B-1 is a long-range bomber that is well-suited for the maritime domain and can meet the unique challenges of the Pacific.” The tense stand-off puts Guam, and its population of just over 160,000, at the centre of one of the world’s most volatile flashpoints. American military bases, including the sprawling Andersen Air Force Base and the Naval Base Guam, occupy nearly 30% of Guam’s land. Governor of Guam reassures the island's residents after North Korea threat 00:48 The island, which was captured by the US from Spain in 1898 during the Spanish-American war, is America’s most western territory but it is not a state. It has a seat in the US House of Representatives, currently occupied by Democrat Madeleine Bordallo, and it is run by an elected governor, Eddie Baza Calvo. Guam's citizens, 40% of whom are comprised of the Chamorro ethnic group, are American citizens by birth. Chamorros first settled the island about 4,000 years ago but over the past 400 years Guam has been ruled by Spain, the US and Japan. Located in the Micronesia region of the Pacific, it is positioned just over 3000 miles from both Sydney and Hawaii. The territory’s tropical climate, with an average temperature of 28 degrees Celsius, makes it a popular location for tourists. At a glance | Guam
Trump's dire rhetoric echoes language of North Korean propaganda
Donald Trump’s dire threats of conflagration aimed at Pyongyang are likely to add yet more unpredictability to an already dangerous nuclear standoff on the Korean peninsula. The US president’s “fire and fury” rhetoric echoed the language of North Korean propaganda, and served as the reminder that on both sides of the lines in the confrontation, there are now volatile and brittle leaders, each insecure in their position and anxious to bolster their strongman image. In response to comments by US president Donald Trump that North Korea would face "fire and the fury like the world has never seen" if it continued nuclear threats, Pyongyang said it was “carefully examining” a plan for a missile strike on Guam, which could be carried out at "any moment".
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