World News: 01:00 GMT Sunday 26th May 2019. [Yahoo Business News Feed via SPi World News]
“The magnitude of the KRW’s under-performance shows the market has disregarded South Korea’s strong fundamentals,” says Ronald Man, a strategist at Bank of America Merrill Lynch in Hong Kong. A sharp drop in Korean semiconductor exports, some speculation for a rate cut, and the U.S.-China trade war have combined to hurt the won. This should be some comfort to the Bank of Korea, given that the U.S.-China trade war and a raft of poor domestic data virtually rule out any prospect of policy makers raising interest rates when they meet on May 31.
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