USD/KRW: Won to appreciate when the trade deficit narrows – Standard Chartered USDKRW SouthKorea TradeBalance Banks
between the trade balance and the KRW implies that the won will likely appreciate when the trade deficit narrows, economists at Standard Chartered report.“Counter-intuitively, we have found that the trade balance has a much higher correlation with the KRW than the C/A balance. This strong correlation may partly explain recent KRW weakness and implies that the KRW is likely to appreciate when the trade deficit narrows.
“We highlight a notable improvement in Korea’s capital account. Korean retail purchases of foreign equities have slowed and foreign flows to Koreanhave recovered – this is improving net equity flows following a sharp deterioration in the past two years.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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