S. Korean Pres. Moon: Considering extra measures worth 17.7trln won to support domestic demand

Dhwani Mehta FXStreet

South Korea’s President Moon Jae-in said on Wednesday, the government is planning additional measures worth 17.7 trln won to support domestic demand.

New policy financing worth 36 trln won will be available for exporters hit by a coronavirus, he added.

USD/KRW snaps two-day losing streak

The Korean won is back in the red zone after two consecutive days of gains when compared to the greenback, as the KRW bulls remain unimpressed by the additional measures being considered by the South Korean government.

Meanwhile, broad-based US dollar rebound seems to be the main catalyst behind the latest uptick in the cross, as it now trades at 1,220.25, up 0.42% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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