South Korea's 1-Year FX Swap Points Rise 0.20 Won to -13.90 Won on July 16 as Rate Differential Narrows

According to Yonhapinfomax, on July 16, the one-year FX swap point in South Korea rose 0.20 won to -13.90 won amid a narrowing Korea-U.S. rate differential. The six-month maturity climbed 0.10 won to -7.10 won, while the three-month increased 0.15 won to -3.15 won.

The move reflected weaker-than-expected U.S. inflation data released June 14-15, reducing market expectations for a Federal Reserve rate hike in July, while the Bank of Korea raised its benchmark rate by 25 basis points to 2.75% on the same day.