FX Swap Points Slide on Rising U.S. Treasury Yields, SK Hynix ADR Supports Short-Term Rates

According to Yonhap Infomax, on July 14, FX swap points declined across most tenors in Seoul's foreign exchange market, driven by rising U.S. Treasury yields. The 1-year point fell 0.40 won to minus 14.50 won, while the 6-month slipped 0.20 won to minus 7.50 won. In contrast, shorter tenors held up, with the 3-month point edging up 0.05 won to minus 3.35 won, supported by expectations of dollar inflows from SK Hynix's ADR listing.

U.S. Treasury yields climbed amid Middle East geopolitical risks and inflation concerns, with the 10-year yield rising to 4.61%, exceeding the 4.60% threshold for the first time since May.