USD/KRW jumps back above $1,290 despite talks of 'big-step' BOK rate hike USDKRW SouthKorea CentralBanks InterestRate
"Whether the BOK will take a big-step increase or not greatly depends on June consumer inflation data,"To tame inflation, the BOK has hiked its policy interest rate five times -- all by a quarter percentage point at a time -- since August last year to 1.75 percent.
Last week, BOK Gov. Rhee Chang-yong told reporters that all options, including a 0.5 percentage-point rate increase, are on the table should high inflation persist. USD/KRW is heading back towards the daily highs of $1,292.95, as the South Korean won fails to capitalize on the hawkish BOK commentary. The spot rebounded from an early drop to $1,289.71 lows.
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