USD/KRW: An extension towards 1,320 could be on the cards – SocGen

FXStreet Insights Team FXStreet

On Thursday, the Bank of Korea meets and it is expected to stand pat. Economists at Société Générale expect the Won to struggle.

BoK to keep the key 7-day repo rate unchanged at 3.50%

“We expect the BoK to keep the key 7-day repo rate unchanged at 3.50% tomorrow. However, the board members’ view of terminal rate is likely to be evenly split between 3.50% and 3.75%. This may not be of much help to the currency.”

“For USD/KRW, an extension towards 1,320 could be on the cards if the FOMC minutes are hawkish and US PCE causes more inflation jitters on Friday.”

See – BoK Preview: Forecasts from four major banks, first pause in a year

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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