South Korea's exposure to a stressed global manufacturing supply chain has ...
SEOUL/TOKYO - South Korea’s exposure to a stressed global manufacturing supply chain has knocked its currency - Asia’s most risk sensitive - to over two-year lows as investors use it as a proxy to bet on the economic costs of a protracted U.S.-China trade war.
As trade tensions flared up between the world’s two largest economies last month and the Chinese yuan threatened to fall past the key 7-per-dollar level, the won slid to near 1,200 per dollar, its lowest since January 2017. The spiraling trade war between Washington and Beijing, which has gone beyond tariffs to company blacklists and travel restrictions, makes that scenario highly plausible.
That’s rough on trade-dependent economies such as South Korea, whose currency has borne the brunt despite heavy verbal and dollar-supplying intervention by the authorities. “Clearly the Korean won lends itself to trading because of its liquidity and because it’s so obviously linked to the supply chain,” said Claudio Piron, a strategist with BofAML in Singapore.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Thousands stranded, five killed, as heavy rain lashes south ChinaThousands of people have been stranded and at least five killed amid torrential ...
Weiterlesen »
Hundreds of North Korean public execution sites identified: surveyNorth Korea conducts public executions to incite fear among the public, a rights...
Weiterlesen »
A year after Singapore, little change seen in US-North Korea ties: pollA year after the first U.S.-North Korea summit, most people in countries with a ...
Weiterlesen »
North Korea steps up measures to prevent spread of African swine feverNorth Korea has stepped up measures to prevent the spread of the highly contagio...
Weiterlesen »
‘Parasite’ Latches Onto $50M+ In Korea, Tops ‘Captain Marvel’ To Become Market’s #3 Title Of 2019After opening to $25M in the wake of its historic Palme d’Or win at the Cannes Film Festival in May, Bong Joon-ho’s Parasite has crossed the $50M milestone in its home market. The multi…
Weiterlesen »
Third U.S.-North Korea summit possible, up to Kim: BoltonA third summit between President Donald Trump and North Korean leader Kim Jong U...
Weiterlesen »