AUTOREFRESH 
Bank of Korea may have bought dollars near KRW 1,164 – Dealers
Well if they did, we can expect them to turn up on the bid in EUR/USD at some early juncture.
Asian sovereign also buys cable
Bank of Korea has also been seen notable buyer of cable in recent trade, sending it quickly over 1.5900, presently at 1.5920.
EUR/USD dips early, runs into Asian sovereign
EUR/USD dipped down to 1.3147, where it promptly ran into Asian sovereign buying in the form of the Bank of Korea. We’re presently back up at 1.3155.
Bank of Korea may have bought around $300-500 mln to curb won’s strength Monday – Dealers
Guess we can expect the Bank of Korea to turn up on the bid in EUR/USD at some early juncture.
EUR/USD whizzing around all over the shop. Yer right. Presently at 1.3073.
China slowing but Korea growing?
Korean exports are booming amid signs of a Chinese manufacturing slowdown.
S.Korean fx authorities said to have bought dollars to curb won’s rise
Thought to have bought around 300-500 mln dollars. Some of those dollars likely destined to be turned into euros in near future. Meanwhile EUR/USD at 1.3005, recovering from brief dip below 1.3000.
South Korea to announce fx control measures early next week – Yonhap
- New rules to cap bank’s currency forward trades
- New rules apply to both domestic and foreign banks
SKorea central bank has no plan to reduce euro assets in forex reserves
And if anyone’s interested (I’m sure they’re not) I’ve exactly 22 euros and I’m not getting rid of a darn one. Well at least not until I next visit a country which uses the euro. I’ll keep you posted of developments.
EUR/USD holding up well so far, presently at 1.2285.
It’s a funny old world……
Talk Bank of Korea may have intervened via a foreign bank to curb won’s gains, buying dollars near 1,217.
EUR/USD manages recovery during Asian trade
EUR/USD presently at 1.2270, up almost exactly a big figure from where North America closed out Wednesday. Chinese have been out indicating they’ll keep European investment at current levels. Future investments will depend on currency issue, regulation issues, economic policies.
Asian stocks have done OK while S&P futures up over 1%.
Korean won up around 2% versus dollar on perception recent sell off overdone and as local stocks rebound. Gains should negate need for aggressive intervention by Korean authorities to support their currency and therefore need for BOK to sell EUR/USD quite as aggressively as it has done of late.
Euro zone data due today:
German CPI for May (prov) expected +0.1% m/m, +1.2% y/y
06;45 GMT: French consumer confidence indicator for May expected -38 from previous -37
07:30 GMT: Italian business confidence for May expected -85.8 from 85.5
08:00 GMT: Italian hourly wages for April
Talk of fairly decent buy orders lined up down at 1.2150 in EUR/USD.
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