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28 Jan 2014
Flash: Korean Won worst performing Asian Currency in 2014 - ANZ
FXstreet.com (Barcelona) - Khoon Goh, Senior FX Strategist, Asia at ANZ notes that the Korean won is the worst performing Asian currency so far this year.
Key Quotes
"Typically, when the won turns around at key levels, it tends to retrace a long way. Despite stabilisation in emerging markets recently, we expect sentiment to remain negative."
"Hence, we continue to favour staying long USD/KRW and look for further upside. We are adjusting our long USD/KRW NDF target to 1120 (from 1100), and raising our stop-loss to 1074 (from 1054)."
Key Quotes
"Typically, when the won turns around at key levels, it tends to retrace a long way. Despite stabilisation in emerging markets recently, we expect sentiment to remain negative."
"Hence, we continue to favour staying long USD/KRW and look for further upside. We are adjusting our long USD/KRW NDF target to 1120 (from 1100), and raising our stop-loss to 1074 (from 1054)."