Japan's move to lower S. Korea trade status takes effect - Associated Press


Japanese Trade and Industry Minister Seko, finally, announced that Japan removed South Korea's preferential trade status with effect from Wednesday, per Associated Press.

The decision deepened the trade dispute and hurt the bilateral relations between the two Asian economies.

Seko said: "This is just a review to enable proper checks on exports, and it's not motivated by any intention to affect relations with South Korea, let alone any retaliation." 

Japan's position that the decision was over concerns about what could be used for military purposes. Japan has never specified the security concerns further, or how they originated, he added.

The South Korean Won remains on the back foot against its American peer, keeping USD/KRW in highs near 1,214 levels so far this Wednesday.

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

AUD/USD: Consolidates heaviest gains in two weeks above 0.7100 amid cautious optimism

AUD/USD eases from weekly high of 0.7137 marked on Wednesday. Virus woes, dovish tone of Fed’s Bullard also probe the optimists. RBA’s Debelle, NAB Business Confidence will offer immediate direction, risk news remain as the main driver.

AUD/USD News

USD/JPY bounces off monthly low towards 105.00 as market optimism fades

USD/JPY retraces the biggest losses in two months from 104.34. S&P 500 Futures, Nikkei 225 drop around 0.50%, stocks in Pacific are also down. Japan’s All Industry Activity Index, risk catalysts will be the key to watch.

USD/JPY News

Gold bulls await fresh clues to probe monthly top below $1,950

Gold buyers catch a breather above $1,920 after posting the biggest gains in a fortnight. COVID-19 data from US states, Victoria propel fears of wider wave 2.0. US Initial Jobless Claims, aid package updates will be the key.

Gold News

WTI: Buyers lurk around 100-day EMA

WTI bounces off $39.83, the lowest in one week, to battle 50% Fibonacci retracement. EIA inventories recovered from -3.818M prior, -1.021M forecast. The energy benchmark dropped the lowest since October 15 the previous day.

Oil News

2020 Elections: Trump is is showing signs of a comeback, will the dollar follow?

"It ain't over till the fat lady sings" – goes the adage which is relevant for the 2020 Presidential Elections as well. Two weeks ahead of election day, there are signs that incumbent Donald Trump is clawing back some support, raising the chances that the race could drag on for longer.

Read more

Forex MAJORS

Cryptocurrencies

Signatures