S. Korean Pres. Moon announces a total 100 trln won worth of market packages to fight coronavirus
|South Korean President Moon announced a total 100 trillion won worth of economic stimulus packages to deal with the economic impact of the coronavirus outbreak.
Further details
To create 20tln won of bond stabilization fund.
To create 10.7tln won of stocks support fund.
USD/KRW reaction
The Korean won keeps its range near two-day highs against the greenback on the stimulus announcement, as USD/KRW trades at 1253.80, down 1.45% so far.
The cross extends its correction from multi-year tops, mainly driven by broad-based US dollar weakness and the better market mood.
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