The USD stands at 110.34 against the JPY. As a result, EUR-JPY is trading at 129.85. EUR-CHF oscillates at 1.1623.

The American statements indicate that the meeting between Kim and Trump on the nuclear disarmament process was successful. Details are unknown. One will sign "something". Accordingly, the disarmament process should take place in temporal proximity. Trump invited Kim to the White House.

We are pleased about this development, because it not only has a bilateral meaning, but also signals a relaxation on a global level. But there remains the question of what a "something" to sign is worth it. Half-lives of US signatures are always manageable if the signed documents no longer fit the US.

Also, the comments of Mr. Guiliani resound, which were and are expressions of sporty hubris. In the light of these statements, is the US really ready to accept the status of North Korea and tolerate or is the current outcome merely an intermediate result, which, from the US point of view, is necessary to pursue a completely different goal on the Korean peninsula?

What role did China and Russia play in getting the current outcome of the negotiations? Their roles should not be underestimated.

But now it is not appropriate to pour water into the wine. After the G-7 experience with the US, however, there is no room for euphoria. The markets respond friendly to the development - that's understandable!

Let us turn to the other face of the United States presented to us at the G-7 meeting.

The IMF, World Bank, OECD, ILO and the African Development Bank warned against protectionism with Chancellor Merkel. "Trade cooperation and coordination are more important than ever for us," states a statement. It will continue to work to improve and strengthen the rule-based multilateral trading system and its role in world trade. The WTO is crucial.

This positioning of the named parties is correct and leads the way, because among other things the statistics prove the progress in poverty reduction on a global basis in the context of the globalization starting from 1990.

People are extremely poor when they live in households with incomes of less than $ 1.90 a day per capita.

In 1981 this was still true for 44 percent of the world's population or nearly two billion people.

At the end of 2015, less than one in ten people worldwide was affected by extreme poverty - around 700 million people.

Currently there is a scenario that favors the EUR against the USD. Only falling below the support level at 1.1490 - 20 neutralizes the positive bias of the euro.