#fx

USD/JPY reached 161.80 on June 19, according to CNBC, marking the yen’s weakest level since July 2024 and putting intervention risk back on traders’ screens after the Bank of Japan’s rate move.

Bank Indonesia raised the BI-Rate by 25 bps to 5.50%, with the Deposit Facility at 4.50% and Lending Facility at 6.25%. The off-cycle move followed rupiah weakness and foreign portfolio outflows.

Foreign investors sold a net KRW 6.95 trillion ($4.5B) on KOSPI June 4 — the second-largest daily foreign net sell on record — as KRW/USD breached 1,530 won for the first time since the global financial crisis. KOSPI fell 1.84% to 8,639.41; KOSDAQ rose 2.31%. Foreigners have net-sold for 19 consecutive sessions (~KRW 66T total).

The Korean won fell through the critical 1,500 per dollar level on May 15, reaching 1,500.2 at 2:13 PM KST — the first breach since April 7. Japan's 10-year JGB yield surged to 2.72%, a 29-year high, triggering risk-off sentiment across Asia, while fading Federal Reserve rate-cut expectations and KRW 5 trillion-plus in foreign equity outflows compounded pressure on the Korean currency.