Bank of Korea (BOK) Governor Rhee Chang-yong said in a statement on Tuesday, “more delicate policy response is necessary as uncertainty is high both externally and internally.”

Additional quotes

“Difficult to predict future inflation path due to uncertainty over China's reopening, Ukraine war.”

“Will respond in a timely manner in case of uneasiness in financial, forex markets.”

Market reaction

USD/KRW remains on the offers below the $1,300 mark following the above comments, keeping its range trade intact so far this Tuesday.