SOUTH KOREA: KRW Still Firmer as Authorities Signal More Activist Approach
Jun-08 08:31
- As mentioned above, that Reuters headline detailing a process that's likely already underway after the stock rout noted on Monday (the KOSPI's sharp downtick triggered a trading halt mid-session). Offshore KRW still trades stronger on the day - 1-month USDKRW outrights are off near 2% on the day after hitting multi-decade highs on Friday.
- We noted last week that scope remains for foreign selling of Korean assets, but further KRW losses could be slower due to stretched options market positioning and signals from Korean authorities for a more activist approach to market management: https://www.mnimarkets.com/articles/scope-remains-for-foreign-selling-but-further-krw-losses-could-be-slower-1780578066794
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