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South Korea: Will actively respond to excessive volatility in the forex market

South Korean Foreign Minister Cho Tae-yul said on Wednesday, “they will actively respond to excessive volatility in the forex market.”

Additional comments

US President Biden expressed confidence in Korean democracy and support for the bilateral alliance in a recent phone call.

Will make every effort to bring diplomacy back to normal and rebuild trust.

Mentioned plans regarding the North Korea nuclear issue will be prepared before the new US administration takes office.

Communication with the Trump team has been affected by recent events and will make efforts to keep it smooth.

Yoon's martial law attempt undercut political momentum for communication built with Trump.

There are limitations with Yoon suspended from duty and it will take time to restore momentum.

Trying to restore communication with the Trump side as soon as possible despite limitations.

Cannot confirm whether Trump has invited the South Korea president and will consider this while monitoring the situation.

Trump has raised prospects for the end of the Ukraine war but noted it would take a considerable amount of time until it happens.

Expressed openness to any opportunities for negotiation with North Korea, including on the nuclear issue, and said they will be proactive.

Announced they will devise a roadmap to prepare for Trump’s potential resumption of talks with North Korea.

Expect China's Xi to attend next year’s APEC Summit in South Korea.

Considering reciprocal measures to China’s visa exemption.

Separately, South Korean Finance Minister Choi Sang-mok comforted markets on Wednesday, saying they “will utilize all available resources to manage the economy as stably as possible.”

USD/INR steadies as investors await Fed rate decision

The Indian Rupee (INR) trades on a flat note on Wednesday after reaching a new record low of 84.92 in the previous session.
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Gold price edges higher ahead of Fed decision; upside potential seems limited

Gold price (XAU/USD) builds on the overnight bounce from the $2,633 area, or over a one-week low and attracts some buyers during the Asian session on Wednesday.
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