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Posted by
Two Blokes May 14 -
Filed in
Forex
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USD/KRW snapped lower on Wednesday, declining 2.3% peak-to-trough on the day after rumors emerged that representatives from both the United States (US) and South Korea had directly spoken about FX markets on May 5. Details of the conversation remain light, but according to sources, South Korea's Deputy Finance Minister Choi Ji-young and US Treasury Assistant Secretary for International Trade and Development Robert Kapoth directly discussed the Dollar-Won exchange rate while attending the Asian Development Bank's Annual Meeting in Milan.
