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TD Securities says USD/KRW is near year-to-date highs after a sharp depreciation of the won over the past month. It expects the Bank of Korea may try to cap rapid moves higher in the weeks ahead.
The firm also flags risk-off sentiment and equity outflows as pressure on the won.
Continued won weakness would raise the local-currency cost of imported feed inputs for Korean buyers. The outlook is a forecast from one bank rather than a new supply or demand event.
octaafrica.netAug 23, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
