The Koream won has fallen to its lowest level since 2004. Assuming the BOK intervenes to sell dollars and buy won, expect them to then sell EUR/USD to keep their reserve mix in balance. This should help limit EUR/USD rebounds. EUR/USD trades at session lows amid bank bailouts in Europe as well as the US this weekend.
The FT reports that Goldman will buy up to$50 bln distressed bank asset. Seems like a sage foresaw this happening a week ago.
