DXY & Forex

The Bank of Korea's Monetary Policy Committee raised the base rate to 2.75% on the 16th and indicated the current level falls within the neutral rate range, sparking debate over the terminal rate target. The policy statement declared a need to 'continue the rate hike stance,' a phrase previously

OCBC released a second-half global economic outlook report on local time July 19, identifying persistent geopolitical risks as a major market misjudgment in the first half of the year. The US-Iran military conflict escalated beyond initial market expectations of a short-term event, with the

According to Meritz Securities on July 20, Bank of Korea Governor Shin Hyun-song did not rule out an August rate increase, though a second consecutive hike appears unlikely if July inflation slows as expected. The analyst noted that July consumer prices are projected to decline month-over-month

According to Jin10, on Monday July 20, offshore CNH HIBOR rates mostly declined. The one-year HIBOR fell to 1.71485%, the lowest level since June 23. Overnight HIBOR rose 1 basis point to 1.43939%, one-week HIBOR held steady at 1.45000%, and two-week HIBOR dropped to 1.46485%.

According to Jin10, hedge funds' net short positions on the New Zealand dollar surged to 29,582 contracts by July 14, up 1,907 from the prior week, marking a record high since 2006. The Commodity Futures Trading Commission (CFTC) data shows traders are betting against the NZD amid concerns over the

According to the Bank of Korea's lending attitude survey released on July 20, domestic banks' composite lending attitude index fell to -7 in the third quarter, tightening from -2 in Q2. Household lending saw the most significant tightening, with mortgage lending at -11 and general household lending

According to SHIBOR data on July 20, overnight SHIBOR reported 1.4120%, up 1.49 basis points. The 7-day rate declined to 1.4310%, falling 0.40 basis points, while the 3-month SHIBOR held flat at 1.4300%.

The Monetary Authority of Singapore (MAS) announced that its monetary policy statement will be released on July 27.

BCA Research recommends selling the US dollar and buying currencies of current account surplus countries including the Korean won, citing parallels between today's macroeconomic environment and the late Bretton Woods era. The independent research firm warns that the dollar is transforming into a

According to BCA Research, in a report released on July 20, the independent research firm warned that the U.S. dollar faces significant depreciation risk as macro conditions mirror the late Bretton Woods era. The firm recommends selling the dollar and buying currencies of current-account surplus

China's Ministry of Finance announced today that the 1-month Treasury cash term deposit rate fell to 1.64% from 1.67%, while the 3-month rate declined to 1.67% from 1.69%.

According to Yonhapinfomax, the Seoul foreign exchange market opened on July 20 with the US dollar-Korean won (USD-KRW) spot rate trading at +0.05 won versus the market average rate (MAR). Non-deliverable forwards (NDF) fixing positions held neutral, indicating a balanced market posture among

Korean government bond futures declined on July 20, with 3-year futures down 17 ticks to 102.72 and 10-year futures falling 43 ticks to 104.98 as of 8:59 AM, according to Yonhap Infomax. The decline followed international oil price surges driven by escalating US-Iran military conflict and renewed ma

Bank of Korea Governor Shin Hyun-song pledged to prepare a briefing on won internationalization and the 24-hour foreign exchange market on July 16, acknowledging current explanations are insufficient. The statement came after the Monetary Policy Committee raised the base rate by 0.25 percentage

According to Yonhapinfomax, on July 20, South Korean government bond futures fell as escalating U.S.-Iran conflict drove crude oil prices higher. The 3-year government bond futures dropped 17 basis points to 102.72, while the 10-year contract declined 43 basis points to 104.98. WTI crude oil

According to Yonhapinfomax, South Korea's central bank raised its benchmark interest rate by 0.25 percentage points on July 16, marking the first increase in 3 years and 6 months. Central Bank Governor Shin Hyun-song said 24-hour forex trading has not yet reduced NDF market activity, adding that the

According to Zhitong Finance, South Korean stock ETFs surged this morning (July 20), with leveraged tracking products posting double-digit gains. The Nantian 2x Leveraged Samsung Electronics ETF (07747) rose 17.41% to 78.9 HKD, while the Nantian 2x Leveraged SK Hynix ETF (07709) climbed 14.51% to 51

According to Odaily, South Korea's government released a won internationalization roadmap on July 20, planning to transition the won from a regulated to a freely convertible currency. The roadmap was jointly developed by South Korea's Financial Services Commission, Bank of Korea, Financial

Taiwan's New Taiwan Dollar (TWD) fell to 32.42 against the U.S. Dollar, marking its weakest level since April 2025.

On the 20th, foreign exchange dealers in the Seoul foreign exchange market forecast the dollar-won exchange rate would rise to the 1,480 won range but remain range-bound with limited upside. Middle East geopolitical risks intensified as the US Central Command announced on the 17th (local time)