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​Back On A Positive Footing As Equities Stabilize ​

KRW

1 month USD/KRW is back to the low 1400 region, down 0.30% on NY closing levels. We got close to 1413 earlier. Local equities are back to slightly positive for the Kospi, aided by a rebound in US futures.

  • Earlier, South Korean President Yoon stated that the country will strive to maintain current account surpluses, and that the government will spur efforts to encourage capital inflows.
  • Recall earlier in the week onshore media reported the authorities are looking at changing taxes on offshore investments to encourage repatriation back into the local currency.
  • Comments also came from BoK Governor Rhee, which are likely to reinforce market views around a 50bps hike week.
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