U.S. keeps S. Korea on FX policy 'monitoring list'

• The Indian stock market experienced a downturn on July 24, 2026, with the Sensex dropping 300 points and the Nifty falling below 23,800 by noon. • Market volatility is being driven by renewed disruptions in West Asia, which have stalled flows in the Strait of Hormuz and pushed oil prices back toward US$100 per barrel.

• Investors are monitoring how the Middle East crisis may trigger oil price spikes, potentially forcing the U.S. Federal Reserve to delay interest rate cuts and strengthen the U.S. dollar. • Japan and South Korea face significant currency risks as they raise domestic interest rates to combat inflation driven by oil shocks originating in the Strait of Hormuz and Saudi Arabia.

• The US Treasury included South Korea on its semiannual foreign exchange monitoring list in a report released Thursday. • Despite South Korea's strong economic fundamentals and a large current account surplus, the US noted that the won remains under sustained depreciation pressure.

• The U.S. Treasury Department announced on Thursday that 10 major trading partners, including China, Japan, and Thailand, will remain on its currency watchlist. • Other nations under monitoring include Germany, Ireland, Singapore, South Korea, Switzerland, Taiwan, and Vietnam, as Washington tracks potentially unfair foreign exchange practices.

• The European Central Bank (ECB) has unveiled ten shortlisted design proposals for new euro banknotes. • To determine the final selection, the ECB's Governing Council has launched an online public survey inviting citizens across Europe to vote on their preferred designs.

• European Central Bank President Christine Lagarde has unveiled 10 design options for a new generation of euro banknotes. • The proposed designs are divided into two thematic categories: “European culture” and “rivers and birds.”

• The European Central Bank (ECB) has unveiled ten finalist designs for future euro banknotes, divided into two primary themes: culture and nature. • The culture theme features icons such as Leonardo da Vinci, Maria Callas, Beethoven, and Marie Curie, while the nature theme focuses on birds symbolizing European biodiversity.

• On July 23, 2026, the European Central Bank (ECB) unveiled ten shortlisted designs for the next series of euro banknotes. • The public is invited to participate in an online survey to provide feedback on the designs, which feature themes of European culture, rivers, and birds, until September 21, 2026.

• The Euro (EUR/USD) gained ground during Asian trading hours on Friday, reaching approximately 1.1380 as the US Dollar weakened. • This recovery follows a period of modest losses and occurs despite ongoing geopolitical tensions in the Middle East.

• The European Central Bank (ECB) is widely expected to keep interest rates unchanged during today's meeting. • Because no new macroeconomic projections will be released, market focus will shift to President Christine Lagarde's press conference for policy signals.

• European stock markets, including the DAX, CAC, and FTSE 100, retreated on Thursday as investor sentiment weakened. • The decline was driven by rising government bond yields and uncertainty surrounding the European Central Bank's latest policy decisions.