US keeps Korea on FX watchlist despite strong fundamentals

The US Treasury kept South Korea on its currency monitoring list, noting that the won remained under sustained depreciation pressure despite the country's large current account surplus and strong economic fundamentals.

In its semiannual foreign exchange report released Thursday, the Treasury retained Korea alongside China, Japan, Taiwan, Singapore, Vietnam, Germany, Ireland, Switzerland and Thailand.

The list was unchanged from its January report.

Korea met two of the three criteria for inclusio ...