Asian FX: KRW and TWD to strengthen the most – ANZ

Market news

28 December 2023

Asian FX: KRW and TWD to strengthen the most – ANZ

Economists at ANZ Bank expect KRW and TWD to be the best Asian currencies in the coming year.

Sentiment towards TWD might be cautious ahead of January’s presidential election

With the upswing in the global semiconductor cycle underway, we expect the currencies of the technology-export-oriented economies to outperform.

We forecast KRW and TWD to strengthen the most, with our year-end target for USD/KRW at 1,220 and for USD/TWD at 30.20.

Sentiment towards TWD might be cautious ahead of January’s presidential election, but the focus is likely to turn towards the improving export outlook once that is out of the way.

USD/JPY set to return to 130-135 in 2H24 – SocGen

GBP/JPY Price Analysis: The Pound breaks trendline support and tests 180.00 area

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