Korean Won Under Pressure From Foreign Equity Outflows, OCBC Says
OCBC strategist Christopher Wong says the Korean won remains heavy against the US dollar as foreign investors keep selling Korean equities and elevated post-FOMC US yields add pressure.
USDKRW
Foreign selling of Korean equities is keeping the won on the defensive against the US dollar, according to OCBC strategist Christopher Wong.
Large-cap technology stocks are at the centre of outflows, while the broader KOSPI has held. Persistent foreign selling and higher US yields after the FOMC are both cited as factors weighing on the currency.
USD/KRW remains supported while these equity outflows and yield dynamics persist.
Source: FXStreet Forex News