South Korea, US Mnuchin discuss FX policy

South Korea's Finance Minister Kim Dong-yeon is in talks with the US Treasury Secretary Steven Mnuchin, explaining their fx policy.

South Korea is stressing that they are not outright "currency manipulators", and do not meet the conditions of being labeled a currency manipulator, while also claiming that their interventionist stance on fx markets is a necessary mechanism to combat 'herd behaviour'. The US will be releasing their twice-annual currency manipulation report sometime this month.

This comes on the heels of South Korea threatening to intervene directly in currency markets just days ago.