South Korea's 24-hour won trading opens with volume 6% below average
Why it matters: Seoul is widening FX access to support its push for MSCI developed-market status despite thin overnight liquidity.
South Korea’s first full day of 24-hour won trading passed without major disruptions, but activity was lighter than usual as officials watched the market through the New York session. Spot trading in the US dollar-won pair totaled about $15.1 billion on Monday, 6% below the average of the previous 30 days, according to Seoul Money Brokerage Services and Korea Money Brokerage. Most trading stayed concentrated in Seoul hours, with volumes thinning in London and New York. The won traded in a narrow range and remained more than 2% stronger than last week’s weakest level since 2009. The reform extends trading from 17 hours and is part of Seoul’s broader effort to make its currency market more accessible to global investors.