USD/KRW spikes toward 1,300 on BoK Rhee’s comments

Market news

12 June 2023

USD/KRW spikes toward 1,300 on BoK Rhee’s comments

Bank of Korea (BOK) Governor Rhee Chang-yong makes some comments on the country’s monetary policy, in his appearance on Monday.

Key quotes

Monetary policy needs to be more sophisticated to balance trade-off between inflation, growth.

Monetary policy should consider downside growth risk, financial stability risk, change in US policy.

Market reaction

USD/KRW is spiking on BoK Rhee’s comments. The pair is trading 0.26% higher at 1,291.78, having found fresh bids near the 1,287 region.

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