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  • KRW – Underpinned by ‘under-conversion’ - Updated Thu April 17, 2014

    Korea’s substantial current account surpluses have been fully recycled by capital account deficits • Under-conversion of overseas FX receivables may be a source of KRW demand going forward • Growth-inflation mix is broadly neutral for USD-KRW, b...

  • KRW lowered to Neutral from Overweight - Updated Mon March 11, 2013

    We revise near-term USD-KRW forecasts modestly higher given recent and prospective JPY weakness • KRW faces short-term headwinds from largely external factors, but export competitiveness remains solid • Leveraged funds: Buy 3M JPY-KRW put spreads ...

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