U.S. Lifts Sanctions on Brazilian Supreme Court Justice Amid Shift in Brazil Relations 
Syria Arrests Five Suspects After Deadly Attack on U.S. and Syrian Troops in Palmyra 
Supporters Gather Ahead of Verdict in Jimmy Lai’s Landmark Hong Kong National Security Trial 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
U.S. Special Forces Intercept Ship Carrying Military Components Bound for Iran 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Hong Kong Democratic Party Disbands After Member Vote Amid Security Crackdown 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Colombia’s Clan del Golfo Peace Talks Signal Mandatory Prison Sentences for Top Leaders 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
International Outcry Grows Over Re-Arrest of Nobel Laureate Narges Mohammadi in Iran 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
South Korea’s Deputy Finance Minister Choi Ji-young met with Robert Kaproth, U.S. Treasury Assistant Secretary for International Finance, on May 5 in Milan during the 58th ADB Annual Meeting. The discussion focused on the dollar/won exchange rate and broader economic coordination, a South Korean government official confirmed.
This meeting follows an April 25 agreement between the U.S. and South Korea to collaborate on a trade package addressing tariffs, economic security, foreign exchange policies, and investment. The talks aim to resolve key trade issues ahead of the expiration of a reciprocal tariff pause scheduled for July.
The won rallied 1.4% against the U.S. dollar on Wednesday, reaching 1,398.40 as of 0830 GMT. This marks a significant move as the currency breached the key psychological threshold of 1,400 per dollar. Market participants suggest that news of the forex discussions may have contributed to the won’s strength, though more analysis is needed to confirm capital flow trends. A local forex dealer, speaking anonymously, noted the sharp gains in the afternoon session as particularly noteworthy.
Last year, the Korean won was Asia's worst-performing emerging market currency, plunging over 14% against the dollar amid global tightening and economic uncertainty.
In related developments, U.S. Trade Representative Jamieson Greer is scheduled to meet with South Korea’s Trade Minister Ahn Duk-geun on Friday during the APEC meeting in Seoul. The two will address a wide range of trade issues, underscoring ongoing efforts to deepen economic cooperation.
These diplomatic engagements signal a strategic push by both nations to stabilize trade relations and manage currency volatility, key concerns amid shifting global financial conditions. The market will closely monitor the outcomes of these meetings in the coming weeks.
