Published at 03:01 (GMT) 22 Dec
In its 2015 outlook, South Korea cut 2015 GDP growth outlook to 3.8% from 4.0% estimated previously. Meanwhile, headline CPI outlook was cut to 2.0% from 2.3%y/y. The report flagged risks emanating from weak yen and FX volatility and rise in US interest rate in 2015 (BBG).
On FX, USD/KRW trading lower between 1097.0 - 1100.5 so far today. Given the absence of risk events, we are unlikely to see any major swing in prices. Expect the pair to be range bound between 1080.00 - 1120 into the year end. JPY/KRW broke below 9.200, touching fresh 6-year lows. KOSPI in mild black, up 0.2% at last look. BB
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