{"id":810643,"date":"2024-12-07T10:18:05","date_gmt":"2024-12-07T16:18:05","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/07\/south-korean-president-faces-impeachment-vote-after-martial-law-shock\/"},"modified":"2024-12-07T10:18:05","modified_gmt":"2024-12-07T16:18:05","slug":"south-korean-president-faces-impeachment-vote-after-martial-law-shock","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/07\/south-korean-president-faces-impeachment-vote-after-martial-law-shock\/","title":{"rendered":"South Korean President faces impeachment vote after martial law shock"},"content":{"rendered":"
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The main opposition Democratic Party of Korea announced Thursday that an impeachment motion against President Yoon Suk Yeol will be put to a vote on Saturday, per Asia News. It needs at least eight members of Yoon’s party to vote for his impeachment for the motion to pass with a two-thirds majority in the 300-seat parliament.<\/p>\n

\nThis action came after South Korea’s President declared martial law in the country for the first time in nearly 50 years, mentioning “anti-state forces” and the threat from North Korea.<\/p>\n<\/div>\n

On Friday, South Korea’s opposition parties said lawmakers were on standby after receiving many reports for another martial law declaration, according to Yonhap.<\/p>\n

Market reaction<\/h2>\n

At the time of\u00a0writing,\u00a0the USD\/KRW pair\u00a0is trading 0.05% higher on the day to trade at 1416.25.\u00a0<\/p>\n

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Risk sentiment FAQs<\/h2>\n
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In the world of financial jargon the two widely used terms \u201crisk-on\u201d and \u201crisk off” refer to the level of risk that investors are willing to stomach during the period referenced. In a \u201crisk-on\u201d market, investors are optimistic about the future and more willing to buy risky assets. In a \u201crisk-off\u201d market investors start to \u2018play it safe\u2019 because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest.<\/p>\n<\/section>\n

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Typically, during periods of \u201crisk-on\u201d, stock markets will rise, most commodities \u2013 except Gold \u2013 will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a \u201crisk-off\u201d market, Bonds go up \u2013 especially major government Bonds \u2013 Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit.<\/p>\n<\/section>\n

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The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are \u201crisk-on\u201d. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity.<\/p>\n<\/section>\n

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The major currencies that tend to rise during periods of \u201crisk-off\u201d are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world\u2019s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them \u2013 even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.<\/p>\n<\/section>\n<\/div>\n<\/div><\/div>\n

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Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. <\/p>\n

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.<\/p>\n

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.<\/p>\n

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. <\/p>\n<\/p><\/div>\n<\/section>\n

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\n Bitcoin: A healthy correction<\/a>
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Bitcoin (BTC) experienced a 7% correction earlier in the week, dropping to $90,791 on Tuesday before recovering to $97,000 by Friday. On-chain data suggests a modest rebound in institutional demand, with holders buying the dip. A recent report indicates BTC remains undervalued, projecting a potential rally toward $146K.\u00a0<\/p>\n


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\n Nancie Pekar<\/p>\n","protected":false},"excerpt":{"rendered":"

The main opposition Democratic Party of Korea announced Thursday that an impeachment motion against President Yoon Suk Yeol will be put to a vote on Saturday, per Asia News. It needs at least eight members of Yoon’s party to vote for his impeachment for the motion to pass with a two-thirds majority in the 300-seat<\/p>\n","protected":false},"author":1,"featured_media":810644,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23570,683],"tags":[],"class_list":["post-810643","post","type-post","status-publish","format-standard","has-post-thumbnail","category-korean","category-south"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/810643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=810643"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/810643\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/810644"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=810643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=810643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=810643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}