Won Falls With Taiwan Dollar as Yen Drop Spurs Intervention Risk

The won fell along with Taiwan’s dollar after the yen dropped to a 12-year low, adding to speculation the Korean and Taiwanese authorities will step up intervention to maintain export competitiveness.

The won and yen are among the currencies that have led Asian losses in the past month as prospects the U.S. will raise interest rates support demand for the dollar. Monetary policies are diverging after South Korea cut borrowing costs this year and Japan ramped up its stimulus. In Taiwan, which competes with both nations in exports of products such as mobile phones, the central bank has so far avoided any easing even as declines in its currency lags behind those of its competitors.