BOK signals FX intervention as won hits post-crisis low

South Korea’s foreign exchange authorities on Tuesday signaled readiness to step into currency markets if volatility intensifies, after the won slid to its weakest level since the global financial crisis. “Authorities would act if market sentiment becomes excessively one-sided or if the won diverges sharply from other currencies,” said Yoon Kyoung-soo, director general of the International Department at the Bank of Korea, in what amounts to verbal intervention.