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South Korea official warns speculators as won hovers near two and a half year high

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A senior South Korean official on Thursday said some speculators in the foreign exchange market are ignoring the government's efforts to stabilise financial markets.

[SEOUL] A senior South Korean official on Thursday said some speculators in the foreign exchange market are ignoring the government's efforts to stabilise financial markets.

"Some offshore speculators are failing to notice the government's willingness to stabilise financial markets," the official said, declining to be named due to internal policy.

The comments dented the won, which was hovering near a two and a half year highs at 1,086.0 per US dollar in early trade.

The official also said the Moon Jae In administration's push to increase household income as part of a growth strategy does not mean changes are afoot to the government's currency market policies.

REUTERS

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