DXY & Forex

According to Yonhap Infomax, South Korea's interest rate swap (IRS) rates declined across the board on July 10. The 1-year IRS rate fell 2.25 basis points to 3.4075%, while 3-year, 5-year, and 10-year rates dropped 0.75, 1.00, and 1.00 basis points, respectively. A bond trader attributed the decline

According to Yonhap InfoMax, the US dollar fell to 1,501.40 Korean won on July 10, dropping 4.70 won from the previous Seoul session close of 1,506.10 won. The currency breached the 1,500 won level as export companies increased forward exchange sales and the South Korean government signaled

According to the Global Economic Outlook report released by ING Bank in the Netherlands on July 9, the Dutch bank expects the Federal Reserve to keep interest rates at their current level through mid-2027 and begin a gradual easing cycle in the second half of 2027. ING noted that even though the Fed issued a warning, market expectations for rate hikes have become overly aggressive due to the hawkish stance of the Federal Open Market Committee last month. The bank cited cooling housing inflation

According to the global economic outlook report released by ING Bank in the Netherlands on July 9, the Dutch bank expects the Fed to keep interest rates at current levels until mid-2027 and to begin a gradual easing cycle in the second half of 2027. ING noted that although the Fed issued warnings, market expectations for rate hikes have become overly aggressive due to the hawkish stance from last month’s Federal Open Market Committee. The bank cited easing housing inflation and reduced pressure

Hanwha Ocean sold USD 2 billion in forward exchange contracts on July 10, marking a strategic shift to increase its currency hedging ratio above 70%. The South Korean shipbuilder, which previously maintained an essentially open foreign exchange position, began raising its hedging ratio last month an

According to Edaily, on July 9, South Korea's government reviewed reducing its allocation to long-term government bonds as the yield spread between 10-year and 30-year notes widened sharply. The bond market anticipates the spread could narrow if the government follows through on the plan. Market

According to Yonhap Infomax, on July 10, Hanwha Ocean sold $2 billion in forward foreign exchange contracts through domestic and foreign banks to increase its currency hedging ratio to above 70 percent. The move marks a shift from the shipbuilder's previous open currency strategy. Hanwha Ocean has c

According to the China Foreign Exchange Trade System (CFETS), on July 10, the center announced it will continue to waive trading commissions on twelve direct CNY currency pairs for three years. The pairs include CNY against Singapore dollar, Russian ruble, Malaysian ringgit, New Zealand dollar,

FX swap points in South Korea's foreign currency funding market showed divergent trends on the 10th, with short-term maturities weakening while long-term contracts posted slight gains. The 1-year swap point closed at -14.60 won, up 0.20 won from the opening price, despite reports that Hanwha Ocean s

According to Yonhapinfomax, South Korea's 1-year FX swap points closed at minus 14.60 won on July 10, up 0.20 won from the opening, while shorter-dated instruments weakened. The 6-month maturity held flat at minus 7.60 won, and the 3-month maturity fell 0.15 won to minus 3.75 won. Market

Japanese stocks rallied on the 10th, with the Nikkei 225 index climbing 813.88 points (1.20%) to close at 68,557.73, recovering the 68,000 level for the first time in four trading sessions. The advance was driven by positive semiconductor sector news from the United States, including reports that

South Korean securities industry observers noted on May 10 that discussions about reintroducing the Financial Investment Income Tax have gained momentum following President Lee Jae-myung's April comments at the National Economic Advisory Council. Lee stated in April that 'transaction tax and

Korean corporations shifted funding strategies from corporate bond issuance to bank loans during the first half, according to analysis by Lee Kyung-rok, a researcher at Shinhan Securities. The shift occurred as corporate bond rates rose above bank lending rates, making direct financing more

According to sources cited by Reuters, Japan's central bank will hold interest rates unchanged in July while maintaining its commitment to continue raising rates in the future.

China's offshore yuan (CNY) closed at 6.7784 against the US dollar at 4:30 PM Beijing time on July 10, up 151 pips from the previous trading day's official close and 126 pips higher than the prior evening's close.

According to Goldman Sachs, the South African Reserve Bank is expected to maintain its benchmark interest rate unchanged in July, following recent dovish commentary from the central bank.