In yet another attempt at de-escalation by the US, moments ago as president Trump was leaving the White House, he responded to a reporter question on whether there will be military action in North Korea, saying that "it's not his first choice", but adding that "we'll see what happens."

TRUMP: WILL HAVE TO SEE WHAT HAPPENS WITH NORTH KOREA

TRUMP: MILITARY ACTION IN NORTH KOREA NOT FIRST CHOICE

The announcement prompted a modest relief rally in the USD, as well as a knee jerk reaction across other markets, with gold and Treasurys both ticking lower, while the USDJPY has rebounded by 25 pips to just shy of 109.00.