USD/KRW Breaks Above 1,550 as Won Weakens Despite Export Strength – Societe Generale
Societe Generale reports that the South Korean Won remains under selling pressure, with USD/KRW clearing the 1,550 psychological level. The currency’s weakness persists even as export growth and the trade surplus remain strong.
According to Societe Generale, the Korean Won continues to face downward pressure in the FX market, pushing USD/KRW above the key 1,550 threshold. This move comes despite robust export data and a widening trade surplus, suggesting that other factors – possibly capital outflows or external headwinds – are weighing on the currency.
Interim resistance levels have been identified above the current mark, though no specific figures were provided in the brief report. The sustained selling pressure highlights a divergence between the real economy and currency market dynamics.
Source: FXStreet Forex News