BOJ Holds Interest Rates Steady, Upgrades Growth and Inflation Outlook for Japan 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Fed Confirms Rate Meeting Schedule Despite Severe Winter Storm in Washington D.C. 
BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The South Korean Won fell 5.3% against the US dollar year-to-date, emerging as the worst performer among Asian currencies. Geopolitical tension triggered capital outflows from the economy. Global funds have pulled $2.8bn out of South Korean stocks year-to-date, Bloomberg data showed.
Finance Minister Yoo II-ho said earlier that the country is ready to intervene if KRW volatility becomes excessive, with an aim to prevent stresses in the financial markets from spilling over onto the real economy. There are indications that that BoK might have conducted some sort of intervention in the past few days. However, track record suggests that the central bank is not very active in the FX market.
"As long as the overall market conditions remain manageable, we think there is still upside for USD-KRW for the time being." said Commerzbank in a report.
