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9 Dec 2024

South Korean President survives impeachment motion

South Korea's President Yoon Suk Yeol survived an impeachment vote in the opposition-led parliament late on Saturday, prompted by his short-lived attempt to impose martial law last week, per Reuters. However, the leader of his party said the president would effectively be excluded from his duties before eventually stepping down.

Thousands of people rallied in front of the parliament in Seoul on Sunday, calling for the impeachment and arrest of Yoon and the disbandment of his ruling party.

Market reaction

At the time of writing, the USD/KRW pair is trading 0.11% higher on the day to trade at 1425.25.

Dec 9, 2024

Eurozone CFTC EUR NC Net Positions declined to €-57.5K from previous €-56K

AUD/USD holds positive ground near 0.6400 as traders await RBA rate decision

The AUD/USD pair gains ground to around 0.6400 on the weaker US Dollar (USD) during the Asian session on Monday.