South Korea Won Weakness Accelerates To 13 Year Low Against U.S. Dollar

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  • #39077
    TradersCom
    Keymaster

    The Japanese Yen and South Korean won have been falling sharply lower in 2022. The won has weakened more than 8% this year, following an 8.6% drop in
    [See the full post at: South Korea Won Weakness Accelerates To 13 Year Low Against U.S. Dollar]

    #39089
    Truman
    Participant

    Great background on the won – thank you

    #39090
    Truman
    Participant

    Bank of Korea Senior Deputy Governor Lee said that inflation needs to be tamed through pre-emptive policy and that rate hikes will only have a limited impact on growth.

    #42612
    TradersCom
    Keymaster

    August 23 – Bloomberg (Jaehyun Eom and Sam Kim): “South Korea is stepping up surveillance of the won after the currency tumbled to a 13-year low, with the authorities warning that they are watching for any offshore speculative factors… The tone of the latest warning is stronger than a caution issued in June and comes as the won tumbled to a 13-year low of 1,345.80 per dollar on Tuesday.”

    #44199
    TradersCom
    Keymaster

    South Korea Finance Minister warns it will proactively respond to herd like behaviors in the #Forex markets
    Korean won has fallen to lowest against the US dollar since March 2009.

    #KRW follows the FOMC raising rates & widening the forwards with USD

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