Omega Management logo

S Korea FX authority warns against herd-like behaviour in USD/KRW trading

SEOUL : South Korea’s foreign exchange authority issued a verbal warning against speculative trading in the dollar-won on Tuesday as the won hovered around a 13-year low.

“We will thoroughly check whether there is speculative movement from offshore (market) as the won declines against the dollar amid the dollar’s strength,” a text message from FX authority showed.

The won pared some of its early losses after the warning.

Read more…