Home Latest News USD/KRW: Volatile around 1,300 on S. Korea’s verbal intervention – FXStreet

USD/KRW: Volatile around 1,300 on S. Korea’s verbal intervention – FXStreet


South Korea's Finance Minister Choo Kyung-ho came out with verbal intervention on Thursday, noting that they “will work to minimize adverse impact from weakening won.”
He said that they “will announce measures to stabilize FX market if needed.”
The talking up of the South Korean won by the South Korean authorities briefly helped the beleaguered currency, as USD/KRW dropped from daily highs of 1,302.79. At the time of writing, the pair is trading at 1,300, up 02.17% on the day.
The won tumbled below the 1,300 mark vs. the US dollar for the first time in 13 years amid looming global recession worries.
“The won has weakened more than 8% this year, following an 8.6% drop in 2021 that was the fastest annual fall since 2008,” per Reuters.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Weak growth-related data and concerns of an economic slowdown spurred risk aversion on Thursday. AUD/USD is down for a second consecutive day and approaching the June monthly low at 0.6850.
The EUR/USD pair eased after EU data showed a sharp deceleration in businesses activity at the end of the second quarter in the Union. US Federal Reserve Chair Jerome Powell fueled recession concerns.
XAUUSD is gaining bearish traction and is poised to challenge the weekly low. Fed’s Powell testimony spurred risk aversion amid inflation and growth fears. US data pointed to slowing economic progress at the end of the second quarter.
Ripple’s XRP price continues treading with mundane price action. Time will tell which direction the digital remittance token heads next.
Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.


Previous articleHow to download Instagram photos: 6 ways to save, backup photos – The Daily Dot
Next articleESA – Mars sleeps with one eye open – ESA Science & Technology
He is well known among his circle for his incredible attraction towards smartphones and tablets. Charles is a python programmer and also a part-time Android App developer.