Reported 7 months ago
With the Federal Reserve's policy decision looming, South Korea is expected to defend the won around the crucial level of 1,400 per dollar as the currency weakens, dropping 0.9% in two sessions. Analysts anticipate verbal warnings and potential intervention if the won surpasses 1,382 per dollar, with authorities likely to take action if it falls below 1,400. The currency's depreciation, exacerbated by a strong dollar and economic issues in China, has raised concerns over capital outflows and market stability, prompting officials to guard against further decline amid ongoing uncertainties.
Source: YAHOO