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BoK Ready To Stabilise FX Markets Volatility

KRW

Spot USD/KRW has moved away from session lows, listening to the post-MonPol press conference with BoK Gov Lee. The Governor noted that the recent KRW appreciation has been a little fast, which weighs on exports, albeit to a lesser degree than before. Lee noted that the sharp move in KRW was driven by herd behaviour in FX market and the BoK is ready to step in and stabilise currency markets, as increased volatility adds to existing uncertainty.

  • USD/KRW trades -2.35 fig. at KRW1,106.25 at typing, familiar technical levels remain in play.

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