Korean won hits 23-month high against USD after Bank of Korea rate hikes
The Korean won hit a 23-month high against the USD, up 16.40% against the dollar in the last two months, driven by Bank of Korea rate hikes that pushed the benchmark to 3% and narrowed the rate gap with the US. A separate analyst note confirmed the USD/KRW decline of around 13% from the summer's high.
Detected & updated continuously · Source: Nebula
Story subjects
Sources
@BullTheoryio
BREAKING: The Korean won just hit a 23-month high against the USD. It's now up 16.40% against the USD in the last 2 months alone. The biggest reason is the Bank of Korea. It has hiked rates twice this year, pushing the benchmark to 3%, narrowing the rate gap with the US. The https://t.co/f60fdi51KO
@ING_Economics
USD/KRW’s jaw-dropping decline continues, with the fall from the summer’s high now around 13%. This pair does occasionally have corrections of this magnitude – e.g. in 2022 – and we suspect a move below 1350 will be hard to sustain in the near term. This is especially so https://t.co/cUoDpkNfK4