Standard Chartered notes as follows obtained a bearish SCTF flow signal for USD-KRW. Flow dynamics suggest there may be some correction in USD-KRW in the near term. Standard Chartered notes.... Fundamentally, we expect t…
Standard Chartered notes as follows obtained a bearish SCTF flow signal for USD-KRW. Flow dynamics suggest there may be some correction in USD-KRW in the near term.
Standard Chartered notes....
Fundamentally, we expect the USD divergence to continue to weigh on the KRW as the Fed potentially hikes rates in H2-2015.
However, given that we do not expect any more rate cuts from the Bank of Korea, we have recently upgraded our short-term KRW weighting to Neutral from Underweight.
We follow up on our new analysis of JPY-KRW using our corporate flow data.
Flow dynamics suggest that JPY-KRW will fall this month. As the flow index is a relative measure to compare current data against historical data, the differential between JPY and KRW flow indices represents the current currency preference against the historical currency preference.
We find divergence again, and this time, it supports a decline in JPY-KRW.
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