Currencies
Korea Vows Steps to Cap Excess Volatility When Won Trades Longer
- Nation to extend trading hours for onshore won from July 1
- Plans to boost FX trading volume during extended hours
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South Korea pledged to intervene to curb any volatility in the won as the nation extends trading hours for the currency starting next month.
Foreign-exchange authorities will take timely market-stabilizing measures in case of excessive swings, the finance ministry said in a statement. Close monitoring of market trends will also be put into place during the extended hours, it said.