A top South Korean finance official stated the won is misaligned with economic fundamentals and confirmed that Seoul is in close communication with Japan and other allies on foreign exchange issues. The warning comes as the South Korean won languishes near a 17-year low against the U.S. dollar.
The British pound advanced against a broadly weaker U.S. dollar on Friday following the release of a U.S. jobs report that came in below expectations. The data has reinforced market speculation that the Federal Reserve may be finished with its interest rate-hiking cycle.
Taiwan's central bank has confirmed it intervened in the foreign exchange market in June, a move that contributed to a decline in the country's foreign exchange reserves to $597.15 billion.
The Japanese yen weakened on Tuesday, trading near a multi-decade low against the U.S. dollar as traders test the resolve of Japanese authorities to intervene. The currency's decline comes amid speculation about Tokyo's strategy and a broader weakening of the U.S. dollar.
Analysts at Citi have noted a significant technical break in the EUR/GBP currency pair, forecasting a potential decline toward the 0.8450-0.85 range. The bearish outlook comes as the pair dropped below the key 0.86 level.
Financial services firm Kepler Cheuvreux has raised its rating for Swedish telecom operator Tele2 to 'buy' from 'hold,' citing a recent share price decline as an attractive entry point. The firm highlighted the company's strong cash generation and potential benefits from consolidation in the Swedish telecom market.
The British pound fell against the U.S. dollar on Wednesday, influenced by a surge in oil prices following U.S. action in Iran and market anticipation of hawkish minutes from the U.S. Federal Reserve.
The British pound advanced against the U.S. dollar on Friday after a weaker-than-expected U.S. jobs report fueled speculation that the Federal Reserve may be finished with its interest rate hikes.
South Korea has initiated round-the-clock trading for its currency, the won, against the U.S. dollar. The major reform aims to improve access for international investors and support the country's bid for inclusion in developed-market equity indexes.
