Low US rates & strong fundamentals boosting KRW
Continued low US rates have helped EM portfolio flows and have resulted in a resurgence in EM currencies. This has been particularly true for South Korea; where rising portfolio flows, on top of a strong current account surplus have led USDKRW to six-year lows. UBS Economics recently revised its year-end USDKRW forecast to 975, due to portfolio flows which will likely overwhelm Bank of Korea (BOK) interventions.
Read the full report: UBS