The News Review:

- WRLD FREX: Won Plunges n N Korea Nuclear Test; Yen Calm
- FREX-Euro slips on German Ifo in thin holiday trade
- WRLD FREX: Dollar Up Marginally In Holiday-Thinned Trade
- WRLD FREX: Won Yen Fall n North Korea Nuclear Test
- CITIC chairman looks beyond forex disappointments

WRLD FREX: Won Plunges n N Korea Nuclear Test; Yen Calm
Wall Street Journal
–>WRLD FREX: Won Plunges n N Korea Nuclear Test; Yen Calm ArticleCommentsmore in. dollar Monday after North Korea apparently conducted a nuclear test but market players said that once the dust settles the Korean currency may recover. Indeed the Japanese yen hardly moved on the news reports despite the country’s geographic proximity to the Korean peninsula partly because Tokyo traders weren’t entirely surprised by the development following Pyongyang’s recent missile test traders said. South Korea’s presidential office said Pyongyang may have carried out a nuclear test with.

FREX-Euro slips on German Ifo in thin holiday trade
Reuters
Korea nuclear test reports * Market liquidity thin due to holidays in UK U. (Releads updates throughout; previous TKY) By Naomi Tajitsu LNDN May 25 (Reuters) – The euro slipped against thedollar on Monday stung after a gauge of German corporatesentiment fell short of market expectations suggesting that anyrecovery in the euro zone’s biggest economy would take moretime. The yen stayed under selling pressure after reports thatNorth Korea had conducted a nuclear test followed bytest-firings of three short-range missiles had been seen as anegative factor for the currency given Japan’s geographicalproximity to Pyongyang. In thin trade due to market holidays in the UK and theUnited States the euro slipped to the day’s low after theMunich-based Ifo think tank’s business climate index rose to84.

WRLD FREX: Dollar Up Marginally In Holiday-Thinned Trade
Wall Street Journal
Memorial Day and a U. banking holiday having stilled foreign exchange hubs New York and London intraday trading ranges for the major currencies have been fairly narrow and position-taking limited. The dollar’s incrementally.

WRLD FREX: Won Yen Fall n North Korea Nuclear Test
Wall Street Journal
–>WRLD FREX: Won Yen Fall n North Korea Nuclear Test ArticleCommentsmore in. ) TKY (Dow Jones)–The Japanese yen and South Korean won both fell against the U. dollar Monday after North Korea surprised markets by conducting a nuclear test and then reportedly testing a short-range missile on the same day. Although the Japanese currency didn’t move much on the initial reports of a nuclear test because the development wasn’t entirely unexpected the report later that Pyongyang also.
Related from Champcarnews: North Korea Nuclear Test Auto Sector Weigh ver European Stocks

CITIC chairman looks beyond forex disappointments
AFP
Chang vice-chairman of the China-based parent company Citic Group blamed the losses on “inadequacies in our internal financial management” and the failure of executive level staff to “fully understand the risks involved. “He said an internal assets and liability committee had been set up to improve risk management. Chang replaced former chairman Larry Yung who resigned after a police raid on Citic Pacific’s headquarters in April following the forex losses. The company’s shares touched the 50 Hong Kong dollar mark in ctober 2007 before plunging 90 percent over the next year. They are currently trading around the 15-16 dollar mark having rebounded following Chang’s appointment. Yung has since reportedly sold off shares leaving him with a stake of just under 10 percent. “It is his own personal decision there is no obligation (for him) to notify us” said Chang of the sale.