Currencies
Korea Discusses Currency Concerns With Japan, Ramps Up Jawboning
- Won rebounds after falling to key 1,400 level on Tuesday
- Authorities say they are ready to take steps to stabilize FX
The South Korean won dropped to a key level of 1,400 on Tuesday for the first time since late 2022.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
South Korea discussed concerns about its currency with Japan after the won and yen slumped to multi-year lows this week amid a surge in the dollar that’s reverberating through global markets.
The government released a statement outlining comments from Finance Minister Choi Sang-mok and his Japanese counterpart Shunichi Suzuki in which they expressed “serious concerns” over the recent weakening of their currencies and warned of taking appropriate steps to counter any drastic volatility. There was no immediate comment from Japanese officials.