In the face of rapidly weakening currencies, Japan and South Korea have sent signals to stabilize exchange rates. In a joint statement, the financial authorities of both countries stated that they will strengthen monitoring of the foreign exchange market and prepare for possible intervention actions.
Analysts point out that rising oil prices and the global return of funds to dollar assets put pressure on currencies of Asian countries that import energy. If the dollar continues to strengthen, regional central banks may need to alleviate volatility risks through policy communication or market operations.
The market is currently focused on the important psychological threshold of 160 yen, as well as whether the won can maintain its value against further depreciation.
