Japan Industry Minister is out on the wires now, via Reuters, noting that “if improper use of exports to South Korea is found, we will consider expanding the strict examination beyond the three high tech materials”.
Despite the trade-negative news, the South Korean Won (KRW) witnessed some aggressive buying, knocking-off the USD/KRW cross to three-day lows of 1,208.25.
On Wednesday, USD/KRW traded near the highest levels since 2016 after the Won fell on the US President Trump’s comments. Trump tweeted: “South Korea is a very wealthy nation that now feels an obligation to contribute to the military defense provided by the United States of America.”
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