USD/KRW to Fall to 1175 by First Quarter—MUFG
Login

USD/KRW to Fall to 1175 by First Quarter—MUFG

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Korean won (KRW) fell against the USD last month, as explained by an analyst at MUFG. They forecasted that the pair will experience a downward trend for the remaining of this year and that it will be at 1150.0 by the third quarter, and that its value will be at 1145.0 by the end of this year.

 

The Supporting Factors

There has been an increase in the figure of daily recorded cases of Covi-19 in South Korea, ever since middle 14,518 new cases were recorded in the country as of 27th January, surpassing the last peak during middle December last year which was 7,850 recorded cases. The covid-19 condition forced the KOSPI to fall by 11% and January’s financial market sense was considerably low.

Though the country is experiencing worsened pandemic circumstances, the country’s economy displayed a quick recovery in exporting and construction works. South Korea export rose powerfully by 22%yoy during the first twenty days of last month, moving up from 20% in December. Increased exportation to the United State of America increased in momentum by 8.9ppts to 28%yoy. Production-wise, semiconductors, a very important export, rose by 28.5%yoy. The country’s consumer sense lifted.

The South Korean government has put in place new standards, which include expanded quick testing that will help to stop the spread of very communicable Omicron variants. In addition, on the 21st of last month, the country suggested an additional budget of 14 trillion KRW to aid small and micro traders who were affected by the lengthened  Covid-19 handling standards as a result of the prolonged pandemic.

Going by all of these happenings, we anticipate USD/KRW to fall to 1,175 by the end of the first quarter of this year.

You can purchase crypto coins here: Buy coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News