#FX Market
Total 4 articles
US Treasury Secretary Scott Bessent warns that the Korean won't depreciation is inconsistent with fundamentals, amid Korea's $350B investment pledge. BOK holds rates steady.
U.S. Treasury Secretary Scott Bessent told S. Korean Finance Minister Koo Yun-cheol that the won's recent depreciation is out of sync with strong economic fundamentals.
The Bank of Korea has named 12 market-making banks for the 2026 won-yuan direct trading market, a move aimed at reducing U.S. dollar dependency and cutting costs in trade with China.
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The Japanese yen rallied to the 156-per-dollar level after Finance Minister Satsuki Katayama said Japan has a "free hand" to counter its depreciation, signaling a heightened risk of currency market intervention.
