South Korea’s won bounced back from its recent losses after the authorities said they would take tougher action against speculative trading and market activities that led to higher volatility.
The government will step up its oversight of offshore currency derivatives, boost inspections into suspected market misconduct and probes of potentially illegal foreign-exchange transactions, the finance ministry said on Sunday. The steps followed an emergency meeting between the heads of the Bank of Korea and financial regulators after the currency slid to the lowest since 2009 last week.
