S. Korea’s FinMin Kim: To take steps on forex regardless of currency level
|Reuters reports the latest comments from South Korea's Vice Finance Minister Kim Yongbeom, talking about likely intervention should the markets move become excessive, in the face of escalating US-China trade war.
Key Quotes:
Not desirable for won to excessively move on yuan.
To take steps on forex regardless of currency level.
To take steps on fx if market becomes unstable.
To take stern steps if fx moves are excessive.
Watching the yuan, that's what is influencing the Won.
USD/KRW hit two-week highs at 1220.55 on the above comments, now consolidating near 1218 levels, taking cues from the sentiment around the Chinese Yuan.
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.