Japan's MoD says there is no longer any impact on the surrounding areas of Japan, following North Korean missile launch

Japan's MoD says there is no longer any impact on the surrounding areas of Japan, following North Korean missile launch.

This is the all-clear phase of a familiar sequence: North Korean launches have followed a well-worn pattern in which the initial alert lifts haven bids in yen, JGBs and gold, and the subsequent confirmation of no damage and no impact unwinds the move within the session. Japan's defence ministry issuing a no-impact statement has historically been the signal that the episode stays in the headline-risk bucket rather than escalating. The distinction that matters in past episodes is trajectory and landing zone: overflights of Japan or landings near exclusive economic zones have drawn sharper diplomatic responses and more durable market reaction than short-range tests into open water, which this framing suggests. Follow-ons to note are whether the launch draws a formal protest or emergency session at the UN, whether South Korea or the US characterise it as a new capability rather than a routine test, and any retaliatory rhetoric from Pyongyang tied to allied exercises. Absent a response cycle, precedent is for these events to leave no trace in pricing by the following session.