USD/KRW remains capped below 1,400 after S. Korean verbal intervention

Market news

15 September 2022

USD/KRW remains capped below 1,400 after S. Korean verbal intervention

South Korean Finance Minister Choo Kyung-ho said on Thursday that they “will take action on FXmarket if needed.”

He added that the government is “closely monitoring the market.”

South Korea is resorting to verbal intervention, adopting Japan’s apporach to stem the declines in their local currencies.

Market reaction

USD/KRW was last seen trading at 1,385.91, 0.31% higher on the day. South Korean officials are coming to the rescue of the won (KRW) as it slumps to the weakest level since March 2009 against the US dollar.

Currencies. Daily history for Thursday, September 15, 2022

Commodities. Daily history for Wednesday, September 14, 2022

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