From the Asahi Shimbun:

  • Japan has stepped up measures to ensure the nation’s safety.
  • Destroyers deployed with missile interception systems on alert to shoot down any missile or debris that appears headed for Japan
  • “We are doing all we can to protect the safety of our nation,” Yoshihide Suga (chief cabinet spokesman )
  • Suga declined to provide details, saying they do not want to “show their cards”
  • North Korea issued a new threat against Japan: An editorial in Rodong Sinmun “We once again warn Japan against blindly toeing the U.S. policy… It will have to pay a dear price for its imprudent behavior.”

Any armed conflict with North Korea is likely to see a flight to USD and JPY – unless the conflict becomes nuclear (extremely unlikely) in which case JPY could suffer and the flight intensify to USD.