ForexLive Asia FX news wrap: Korean won a mover

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Monday 8 January 2018

Weekend:

The Korean won was a big mover today, with rumours of Bank of Korea intervention to buy USD/KRW and drive the won lower, but also strong jawboning from the Bank - they said they'd act 'sternly' on one-way moves. Earlier chart:

The USD was a little stronger nearly across the board, but there was a mix. AUD/USD is lower, but AUD/NZD selling has helped steady NZD/USD. Cable edged its way above 1.3580 at one stage but since gave all its gain back and is pretty much on its session low as I post. Some Brexit news over the weekend (a 'no deal minister to be appointed, see bullets above).

EUR/USD too is on its session lows (BTW - the ranges in all of these was only small during the session here so far). USD/JPY, meanwhile has not moved too much either, no helped by a holiday for Japan today.

We await Europe/UK time and added impetus to the market.