- 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.