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Won Extends Losses As BoK Gov Speaks

KRW

Highlights from BoK's Lee press conference in the wake of the unchanged rate announcement:

  • To keep easing stance until stable recovery expected
  • Today's decision was unanimous
  • Pace of economic recovery depends on consumption
  • To pay more attention to financial stability
  • Hard to judge now there is bubble in south Korea stock markets
  • Correction of asset prices would not hurt financial system
  • Chance of increase in household debt default risk is low
  • Concerned on stock investment based on excessive leverage
  • USD/KRW has moved steadily higher through the session, the move supported by some US dollar strength. The pair last changes hands at 1098.85, ever so slightly higher on the day after gapping lower to 1096 on the open.

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