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South Korea's 1-Year FX Swap Points Fall to Minus 14.60 Won on July 8 Amid U.S. Rate Surge

GateNews
Forex
According to Yonhap Infomax, on July 8, South Korea's 1-year FX swap points declined 0.20 won from opening to close at minus 14.60 won, while shorter-dated contracts showed mixed movement. The 6-month maturity held flat at minus 7.40 won, the 3-month contract rose 0.05 won to minus 3.55 won, and the 1-month contract closed at minus 1.00 won. The decline in long-dated swap points was primarily driven by a rise in U.S. Treasury yields. According to the New York Federal Reserve's June consumer expectations survey, the median 1-year expected inflation rate reached 3.7%, marking the highest level since September 2023. Short-dated contracts showed strength from offshore and custody-focused buying interest.
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