Bank of Korea Governor Rhee Chang-yong said on Wednesday authorities have the resources and tools to smooth out any volatile moves in the country's currency. "Our exchange rate deviated a little bit from what could be justified by market fundamentals," Rhee said in reference to the South Korean won's moves in the past few weeks. Receding expectations of a near-term interest rate cut by the U.S. Federal Reserve caused "a lot of headwinds" for the won, which also felt pressure from declines in the Japanese yen and the Chinese yuan, Rhee said during an International Monetary Fund panel session in Washington. But he ... (full story)