USD/KRW drops back below 1,320 on BOK comments

Bank of Korea (BOK) Governor said in a statement on Monday that they “will take market stabilizing measures if necessary.”

“Closely monitoring interest rates, stock prices, foreign exchange rates, capital flows,” the BOK added.

Meanwhile, the South Korean Finance Minister said that they “will step up monitoring of financial markets.”

He added that they “will respond in a timely manner if necessary.”

Market reaction

USD/KRW has come under renewed selling interest, fuelled by the above comments. The pair is trading 0.35% lower at 1,316.08, having failed to find acceptance above the $1,320 level.