Dollar selling linked to SK Hynix’s US ADR offering hit the USD/KRW forward market on Wednesday, lifting the won about 1% to its strongest since May 29 and pushing it through the 1,500 level. SK Hynix launched the ADR to raise 43 tln won (~$28.7 bln); major investors have signaled up to $7 bln in subscription intent and the company expects to repatriate dollar proceeds around July 15 and convert part into won. Spectra Markets president Brent Donnelly said even a small slice of the roughly $29 bl

Dollar selling linked to SK Hynix’s US ADR offering hit the USD/KRW forward market on Wednesday, lifting the won about 1% to its strongest since May 29 and pushing it through the 1,500 level. SK Hynix launched the ADR to raise 43 tln won (~$28.7 bln); major investors have signaled up to $7 bln in subscription intent and the company expects to repatriate dollar proceeds around July 15 and convert part into won. Spectra Markets president Brent Donnelly said even a small slice of the roughly $29 bln would produce material flows in USD/KRW.