- USD/KRW slides to 1,300 after BoK suggests core inflation might remain higher than previously projected
Market news
4 July 2023
USD/KRW slides to 1,300 after BoK suggests core inflation might remain higher than previously projected
USD/KRW takes offers to refresh intraday low near 1,300, printing a three-day losing streak after rising to a five-week high, amid the early hours of Tuesday’s Asian session.
In doing so, the South Korea Won (KRW) pair justifies the Bank of Korea’s (BoK) hawkish comments about the Core inflation while ignoring the central bank’s expectations of witnessing softer headline inflation in July.
The BoK statements rolled out after a meeting to review inflation conditions.
Key comments from BoK
Inflation rate will fall further in July but rebound afterward to around 3% by year-end.
Core inflation slowing gradually, may exceed earlier projection.
Uncertainty is high over future inflation path.
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