Survey: Korean Won empty position reduced by chip optimism; Thai baht and new Taiwan currency empty position increased

On 23 July, a Reuters survey showed that investors had significantly cut down on their falling bets on the Korean Won as South Korea attempted to expand its foreign exchange market, strong trade performance and improved mood for the Won. According to a two-week survey of 10 interviewees, Korean Won's empty position fell to its lowest level in five months, while the drop in the Thai baht and the new thai currency went up to the highest point in months. A combination of factors has increased the confidence of market participants in the Korean Won: The introduction of a 24-hour off-the-shelf United States dollar to the Korean Won, the strong export of the AI chip led to economic recovery and stricter monetary policy. “As the Korean authorities opened up the foreign exchange market, so did the confidence of the Korean Won. South Korea's strong trade performance may also boost financial inflows, as indicated by Jeff Ng, Director of Macro Strategy for Asia, San Suai Bank, Japan。