Tag: Korean won
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Bessent’s Candid Call: Rare U.S. Verbal Support Lifts Korean Won Amid Slide
Overview: A Rare Intervention Sparks Market Reactions In a development that caught traders’ attention, Treasury Secretary Scott Bessent on Wednesday publicly acknowledged the sharp decline in South Korea’s won, framing it as excessive and warranting consideration from global policymakers. The comment, notable for its rarity, contrasted with the usual reticence of U.S. officials when discussing…
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Bessent Stirs Korean Won Rally with Rare Verbal Backing amid Weakness Concerns
Overview: A Rare Show of Support for the Korean Won In a notable shift for currency markets, Treasury Secretary Scott Bessent voiced rare verbal support for the Korean won on Wednesday, aiming to quell the deepening weakness that has driven the won toward its weakest level since 2009. While high-profile comments from U.S. officials regarding…
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Bessent Encourages Confidence in the Won as He Questions Its Decline
Introduction: A Rare Voice in a Volatile Market In a surprising move that caught traders off guard, Treasury Secretary Scott Bessent offered rare verbal support for South Korea’s won as it slumped toward its weakest level since 2009. The public endorsement, unusual for a senior U.S. official in the currency arena, touched off a brief…