South Korean Won May Rebound Toward 1,400 as State Street Trader Sees H2 Stabilization
Updated
Updated · Bloomberg · Jun 2
South Korean Won May Rebound Toward 1,400 as State Street Trader Sees H2 Stabilization
1 articles · Updated · Bloomberg · Jun 2
The won could strengthen from about 1,515 per dollar on Tuesday to the low 1,400s by year-end, according to State Street's head Korea FX trader Ji Wang Seo.
Seo said second-half stabilization would be driven by easing foreign selling of South Korean equities and persistent current-account surpluses that support the currency.
A broader rebound still hinges on global risk sentiment improving and foreign investors returning to Korean assets.
Will the Korean won rebound on tech strength or plunge from war fears?
With Samsung's stock soaring, why is South Korea's currency still so vulnerable?