KRW - South Korea says it will take active steps on one-sided market move

South Korea with the intervention threat. Comments from its vice finance minister:

• SK will take active steps to address excessive one-sided moves in the market
• will beef up monitoring of financial markets

With the Fed facing skyrocketing inflation :

• US CPI responses coming in - "clear sign of an over-heated domestic economy"

expectations are heightening for a more aggressive rate hike response late this month (FOMC announcement due on the 27th)

• Nomura has revised their FOMC rate hike call, +100bps (from +75) coming in July

Stonking Fed rate rises are helping the US dollar drive EM currencies into the dust.

Another leg higher coming for USD/KRW would be a Bank of Korea concern: