Forex Trading Chiefs at Citibank, SocGen See Won Extending Drop
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The won will drop to levels last seen in 2012 this year as overseas investors pull money from South Korean assets, say foreign-exchange trading heads.
The chief traders at Citibank Korea Inc., Societe Generale SA and Korea Exchange Bank are all forecasting the currency could fall to as low as 1,180 a dollar by year-end, which would be a 2.8 percent decline from Friday’s closing level.