Intervention risks buoy South Korean won against dollar, DBS says
South Korean won outperforms Asian peers on strong semiconductor exports and FX intervention coordination, DBS Group Research says.
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Chang Wei Liang at DBS Group Research highlights that the South Korean won is the best-performing Asian currency at present. The won is drawing support from robust demand for semiconductors and reports of foreign exchange intervention coordination involving South Korea, the United States and possibly other partners.
The prospect of coordinated intervention to curb excessive volatility reinforces the won’s resilience against the US dollar, keeping the currency firm in the near term.
Source: FXStreet Forex News