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1) USD-KRW 1430 Less Than KRW 1430 Amid Oral Intervention by Foreign Exchange Authorities
Last night, the dollar-won (REGN) exchange rate was 1,425 won, closing near the flat area compared to the previous trading day. The exchange rate continued to rise amid the U.S.-China trade conflict, but the exchange rate was pushed back to 1,424 won after the joint oral intervention between the Ministry of Economy and Finance and the Bank of Korea came out in the early 1430 won range. Mizuho cited the time when the dollar fell 4% after Trump’s “liberation day” tariff announcement, noting that “April’s situation will not be repeated.” Market consensus is already betting on a weak dollar, and currency hedging against a weak dollar has already been established, he said

2) Besent ‘likely to go ahead as scheduled for Trump-Xi Jinping talks’
Treasury Secretary Bessent said he expected talks between Trump and Chinese President Xi Jinping to go ahead as scheduled, while at the same time leaving all options open against China’s control of rare earth exports. He said Trump was “going to meet with Xi in South Korea, and I think the schedule is still in effect,” adding that there had been “significant communication” with his Chinese counterpart over the weekend. Regarding China’s export controls, Bessent said, “This is a ‘China vs. the world’ structure, which means China has aimed rockets at supply chains and industrial bases around the world,” and stressed that “all means are on the table” regarding countermeasures

3) Philadelphia Fed governor ‘prefers two additional cuts within the year’
Anna Paulson, governor of the Federal Reserve Bank of Philadelphia, said she prefers to cut interest rates by 25 basis points twice within the year, and said that rising consumer prices following tariff hikes are a temporary phenomenon and are not a factor that can change the monetary policy stance. “Given the current labor market situation, it is unlikely that temporary price hikes due to tariffs will turn into continuous inflation,” she diagnosed. He is optimistic that monetary policy adjustments this year and next year alone will keep the labor market situation close to full employment levels. On the other hand, the recent rise in unemployment suggests that the labor market’s momentum is downward

4) Broadcom cooperates with OpenAI to develop customized chips
OpenAI has signed a multi-year agreement with Broadcom to cooperate with custom chips and network equipment. As part of the agreement, OpenAI will design hardware and develop it with Broadcom. Starting from the second half of 2026, the company plans to deploy server racks equipped with the equipment, adding a total of 10 gigawatts of AI data center capacity. OpenAI mentioned that the know-how gained in the development of AI models and services will be “embedded directly into hardware to achieve a new level of performance and intelligence.” Broadcom shares surged nearly 11% during the day on the news

5) JP Morgan to inject $1.5 trillion into U.S. economic security sector
JP Morgan said it will spend $1.5 trillion over the next decade on industries that will strengthen U.S. economic security and resilience. This means expanding the capital, resources, and manpower that are being invested in developing defense, aerospace, and energy technologies such as drones, battery storage devices, and electrical grid resilience as well as rare earths, pharmaceutical precursors, and robotics. “The reality that the U.S. has become too dependent on unreliable sources in key minerals, products and manufacturing that are essential for national security has become painfully apparent,” said CEO Jamie Dimon. “We need to act now.”
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