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Market Chatter: South Korea Forex Intervention Lifts Won to Biggest Monthly Rise Since 2009

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South Korea's rare dollar-selling foreign exchange intervention, alongside Japan on Thursday, lifted the won to a nine-month high, Reuters reported Friday, citing a market source.

The two countries reportedly sold dollars in New York trading, while Japan bought yen, helping lift the yen from four-decade lows.

Meanwhile, Korea's won strengthened 2% to 1,418 per dollar, its strongest level since Oct. 20. The currency has gained over 8% in July and is expected to post its biggest monthly rise since 2009.

The South Korean Ministry of Finance and Economy toldthat it is unable to comment on or confirm this matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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