USD/KRW set to trade between 1,200 and 1,250 this month – Scotiabank

USD/KRW is hovering around the 1,230 mark. Economists at Scotiabank expect the pair to trade between 1,200 and 1,250 in April.

Fundamental backdrop supports KRW outlook

“South Korea’s trade balance swung back into a deficit of $140mn on booming commodity prices in March from a surplus of $831mn in February. In addition, the nation’s listed companies are set to pay annual dividends worth billions of dollars to overseas investors in April.”

“We expect the BoK to raise its policy rate again in Q2 while seeing USD/KRW trading between 1,200 and 1,250 this month.”