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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.
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Free AccessUSD/KRW takes another leg higher as......>
KOREAN WON: USD/KRW takes another leg higher as South Korea confirms 334 new
coronavirus cases in the country, bringing the total number of patients to 1595,
while the U.S. urged travellers to reconsider visiting South Korea. At the same
time, news wires have circulated reports re: indefinite postponement of
U.S-South Korea joint military drills. USD/KRW is close to unch. at KRW1,216.45.
- The rate has now more than retraced its earlier downswing driven by a surprise
decision from the BoK to leave rates on hold. As a reminder, the BoK also
decided to lift the ceiling of its lending facility for small cos. to KRW30tn
from KRW25tn.
- The BoK's decision obviously puts more pressure on the gov't to ramp up fiscal
stimulus amid the Covid-19 outbreak. BoK Gov Lee's comments will be under close
scrutiny, with any clues re: assessment of the impact of the virus &
distribution of votes among MPC members providing some obvious points of
interest.
- BoK's GDP & CPI outlook revisions hit at typing. Growth seen at +2.1% Y/Y in
2020 vs. the Nov forecast of +2.3%.
To read the full story
Sign up now for free trial access to this content.
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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.