USD/KRW set to drop below the 1,190 mark – Scotiabank
|According to economists at Scotiabank, USD/KRW will likely fall below the 1,190 level before trading even lower once external uncertainties start to fade away.
BoK expected to hold its policy rate steady at 1.25%
“The Bank of Korea (BoK) is expected to hold its policy rate steady at 1.25% on Thursday, but remains on track to deliver another 25bp rate hike in the second quarter.”
“As a traditional high-beta currency, the Korean won will remain susceptible to external uncertainties. In the near-term, the ongoing Russia-Ukraine crisis could dampen market sentiment abruptly.”
“USD/KRW is now staying in an ascending channel, and will likely fall below the 1,190 level before trading even lower when external uncertainties start to fade away.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.