USD/KRW set to drop below the 1,190 mark – Scotiabank

FXStreet Insights Team FXStreet

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.”

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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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