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13 Mar 2023

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.

Mar 13, 2023

AUD/USD Price Analysis: Bulls meet channel resistance near 0.6650, but committed from 0.6600

As per the pre-open market analysis, the price rallied into and beyond the M-formation´s neckline which was forecasted to be a pull on the Aussie for
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Mar 13, 2023

Silver price Analysis: XAG/USD retreats from 13-day-old resistance line below $21.00

Silver price (XAG/USD) clings to mild gains around $20.60 as it probes the metal’s pullback from a short-term key resistance line during early Monday.
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