USD/KRW to drop towards the 1150 level on BoK rate hike – OCBC

The Bank of Korea (BoK) Interest Rate Decision is scheduled on Thursday, August 26 at 01:00 GMT. Economists are divided between a hike or a hold. In the case the BoK decides to proceed with a hike, the USD/KRW pair would fall to the 1150 level, in the opinion of economists at OCBC Bank.

See – BoK Preview: Forecasts from nine major banks, economists split between a hike or a hold

USD/KRW to extend its retreat on a BoK rate hike

“The street seems split between a hike or a hold in the upcoming decision, but the hawkish BoK expectations into year-end remain intact.” 

“Should a hike materialise tomorrow, expect it to boost the USD/KRW’s retreat from the 1180 highs, with initial targets at 1150.”