ING economists say stable Fed and AI demand support South Korean won

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Summary · why it matters

ING economists Deepali Bhargava and Lynn Song highlight a sharp 8% drop in USD/KRW earlier in the second quarter, driven by temporary flows such as Hynix ADR repatriation and National Pension Service hedging adjustments, alongside a hawkish Bank of Korea hike. They note that a stable Federal Reserve and sustained AI-related demand are now providing support for the South Korean won against the US dollar.

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