USD/KRW: BoK may attempt to cap any rapid moves higher in the weeks ahead – TDS
|Economists at TD Securities analyze USD/KRW outlook.
Global risk-off sentiment may accelerate equity outflows and weigh on the KRW
The run-up in USD/KRW is likely on the BoK's radar given the sharp depreciation over the past month (USD/KRW near YTD highs) and we think the BoK may attempt to cap any rapid moves higher in USD/KRW in the weeks ahead.
However, we think the risk is that USD/KRW drifts higher on the continued weakness in regional pairs such as CNH, JPY depreciation while the global risk-off sentiment may accelerate equity outflows and weigh on the KRW.
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