South Korean won likely to fall against US dollar, BoK rate decision in focus
USD/KRW remains well supported above 1200.00 marks. Since the start of this week, pair remains range bound in between 1211 to 1185 marks. BOK will announce its interest rate decision by next week on February 16. Market a…
USD/KRW remains well supported above 1200.00 marks.
Since the start of this week, pair remains range bound in between 1211 to 1185 marks.
BOK will announce its interest rate decision by next week on February 16.
Market anticipates base rate remain unchanged at 1.50 pct.
Due to the China's slowing growth and global financial market turmoil, BoK likely to cut the rate in H1 2016.
Moreover, current lower inflation in Korea is also adding worries to the health of the economy. Exports were down over 18 percent on-year as sales to China collapsed.
The Bank of Korea last cut rates in its easing cycle in June last year.
Major support level is seen at 1175 and on the other side resistance level is seen at 1220 levels.
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