- Foreign exchange rates should be determined by markets in principle
- Does not have specific direction in mind on foreign exchange rates
For some context, the US Treasury first placed South Korea on its currency manipulation watchlist all the way back in 2016. That before dropping South Korea from the list in November 2023 before reinstating it in November 2024. The reasons cited are issues surrounding persistent trade and current account surpluses.
So as South Korea now strikes a framework agreement with the US on trade, they will be hoping that they can also resolve the matter of this currency manipulation accusation in further negotiations.
This article was written by Justin Low at investinglive.com.