USD/KRW: Won to be the best performing Asian currency in Q4 – MUFG

USD/KRW hit a 10-month high by the end of September. Economists at MUFG Bank analyze the pair’s outlook.

South Korea’s chips exports recovery would give KRW some advanges

We expect KRW to be the best performing Asian currency in Q4, although the degree of its appreciation would still be modest, amid a strong US dollar and high US interest rates. 

South Korea’s chips exports recovered a bit from recent trough, the potential continuation of this trend in light of AI investment trend would give KRW some advanges.

USD/KRW – Q4 2023 1,330 Q1 2024 1,320 Q2 2024 1,290 Q3 2024 1,270