USD/KRW is up by 0.76% on the day
After expending efforts to talk down the KRW and even intervening at one point during the month of January, finally the Bank of Korea is starting to see some results from that.
Though talk in the market is saying that USD/KRW is surging higher on the day as importers are said to be rushing towards buying the dollar - and that's keeping the pair underpinned. The rush was said to come after the NDF market rose up to close to 1,070 levels.
If the spike today holds, it will be the biggest weekly jump in the pair since August 2017.
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