RCO/FX- MPZ@ 555.10 OI@ 220241 Down 2353= MXN Liquidation
The cycle of sanctions, recriminations, and provocative actives continues as the Trump Administration leads a confrontation with North Korea. The US announced yesterday new round of sanctions on North Korea. Reuters reported that the PBOC has instructed its banks not to take on new North Korean clients and to begin unwinding existing relationships. While the implementation and enforcement will be scrutinized, the measures are very much supportive of the US efforts.