Free Trial

USD/KRW Edges Up, BoK Pause May Be On The Cards

KRW

1 month USD/KRW has edged higher, up from earlier lows. The pair was last at 1238, although found selling resistance closer to 1239. BoK headlines crossing the wires hint the central bank may now pause the rate outlook, although we await further details from the Governor. The statement didn't mention the need for additional rate hikes, while highlighting a weaker growth backdrop now compared to the Nov assessment. The restrictive stance in terms of current policy settings will be maintained.

  • Broader USD gyrations are also influencing, with won weakness coinciding with a USD/CNH move above 6.7300 (but we are back below this level now).
  • Bond futures are reversing their earlier dip as well.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.