USD/KRW: South Korean won likely remains sensitive to global growth concerns and Fed’s policies – MUFG By MSalordFX USDKRW Banks
ening from the Federal Reserve. They forecast USD/KRW at 1250.00 by the end of the second quarter, and at 1230.00 by the fourth quarter. “KRW depreciated this June on resuming capital outflows amid global growth and recession worries, with foreign investors sold about a net USD4.2 bn of Korea’s local equities in the month after a net buying of USD170 mn in May. Notably, the won even breached the 1,300-mark for the first time in 13 years on June 23.
“Risk appetite is likely to remain highly volatile in the near term as uncertaiinties over external factors including global stagflation and the Fed’s policy trajectory could continue to drive KRW’s movement.”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.
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