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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.