Choose the category below to
refine article list
FX

Regions

Search Results

Display 
 per page
Sort result by 
  • 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 ...

  • Take profit on our remaining long KRW vs. G3 - Updated Thu November 29, 2012

    US fiscal cliff concerns, policy and positioning may limit KRW gains near-term • We believe now is the time to take profit on our remaining long KRW position vs. G3 • We remain medium-term bullish on KRW on external balances, valuation and bond fl...

  • Take profit on half of our long KRW vs. G3 - Updated Fri November 23, 2012

    Recent comments from Korean authorities indicate a more vigorous response to KRW gains • Based on these comments and the recent rally in the KRW we believe it is prudent to reduce KRW risk • Fundamentally, we remain bullish on the KRW on external ...

  • Taking profit in the Real Money Portfolio - Updated Fri November 2, 2012

    We are taking profit in the Standard Chartered FX Real Money Portfolio • Short positions in the JPY and the INR, alongside longs in the KRW and the CNY, have worked well • The US election brings near-term event risk ahead of likely protracted n...

  • Add to long KRW vs. a basket of USD, EUR and JPY - Updated Wed October 24, 2012

    We are bullish on KRW on external balances, growth rebound and valuation • Korea’s high credit rating and liquid bond markets should support CB reserve diversification into KRW • We recommend adding to long KRW vs. USD/EUR/JPY given our bearish vi...

  • Buy KRW versus a basket of USD, EUR and JPY - Updated Fri October 5, 2012

    We are bullish on KRW on external balances, growth rebound and valuation • Korea’s high credit rating and liquid bond markets should support CB reserve diversification into KRW • We recommend buying KRW vs. USD/EUR/JPY given our bearish view on EU...

  • Re-entering the Real Money Portfolio - Updated Fri October 5, 2012

    • We are re-entering the Standard Chartered FX Real Money Portfolio • The portfolio uses EUR and JPY as funding for longs in EM currencies (except INR) • Flush liquidity conditions drive a re-leveraging dynamic; we pre-position for better econom...

  • Standard Chartered Transaction Flows – August - Updated Fri August 17, 2012

    • Our SCTF Position Index shows clients remain substantially short USD vs. KRW, CNY, INR and SGD • Clients in aggregate reduced USD shorts in July vs. CNH, CNY, KRW, TWD, SGD; increased vs. INR, MYR • Custodian clients are substantially short USD ...

  • Take profit on long KRW versus 50/50 USD and EUR - Updated Tue August 14, 2012

    August has seen substantial inflows into Korean equities, but the KRW advance is stalling • Risk appetite readings are now retreating, flagging risks for high-beta currencies such as the KRW • Fundamentally, we still like the KRW medium-term an...

  • Hedging strategies in USD-AXJ - Updated Fri July 27, 2012

    • Europe continues to represent the major risk to Asian economies and currencies • But China’s policy easing should help provide a more solid footing for Asian growth in H2 • North-East Asian currencies, notably the KRW, should lead the recovery i...

  • Buy KRW vs. 50/50 USD and EUR - Updated Mon July 16, 2012

    We have Overweight short- and medium-term FX ratings on KRW on C/A balances, valuations, flows • Global liquidity conditions remain exceptionally ample which should support capital inflows into Korea • We recommend to buy the KRW vs. a basket of U...

  • Re-entering the Real Money Portfolio - Updated Thu July 12, 2012

    • We are re-entering the Standard Chartered FX Real Money Portfolio • The portfolio uses EUR as funding currency for longs in EM currencies (except CNY) • Re-entering the portfolio pre-positions for improved cyclical news later in the year ...

  • Take profit on long KRW-TWD - Updated Tue June 5, 2012

    KRW-TWD has corrected sharply higher on TWD underperformance, in line with our view • The near-term relative-value opportunity appears to have been all but eliminated • We recommend taking profit on our short USD-KRW vs. long USD-TWD 3M s...

  • Buy KRW in ratio trade versus TWD [CORRECTION] - Updated Tue May 29, 2012

    This supersedes the version dated 29 May 2012. Table 1, amends forward stop rate and forward target rate. • KRW has heavily underperformed other North Asian currencies amid global risk aversion dynamic • TWD-KRW shows signs of peaking near-term ...



Go to page
  

New User

Find out more about our research

Straight2Bank User

Please access our research via your Straight2Bank account

In Media

Global Focus - The world in transition

The world economy is in transition. Global growth rates are picking up, but transition means elevated risks and volatility. In terms of global implications, all eyes will be on the US and China, with the US normalising monetary policy and China rebalancing its economy.