South Korean Won: Rally versus sustained USD strength – TD Securities
The post South Korean Won: Rally versus sustained USD strength – TD Securities appeared on BitcoinEthereumNews.com. TD Securities’ Macro Research team, led by Howard Du with contributions from Jayati Bharadwaj and Linda Cheng, analyzes the recent Korean Won rally and its impact on USD/KRW. They argue that despite KRW strength, the broader US Dollar (USD) uptrend against South Korean Won (KRW) remains intact and is likely to persist until a new bearish USD cycle emerges, highlighting key technical levels and intervention risks. USD/KRW uptrend seen resilient “KRW is in focus for FX market as it has been the best-performing major currency in July. KRW outperformance is notable in light of rising crude oil price on resurgence of Middle East geopolitical risk and falling equity prices for semiconductor stocks.” “Recent KRW rally has caught the FX market’s attention, and we discuss our outlook for USD/KRW. We believe the USD/KRW uptrend should remain in place until a new bearish USD wave fo