Downtrodden Won Can’t Catch a Break as South Korea Exports Cool
- Preliminary data indicate shipments likely slowed in September
- Currency may drop to 1,200 per dollar by year-end: NH, DB
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A four-month decline in South Korea’s currency has vindicated the call of won bears. All signs point to more weakness ahead.
The currency could fall to 1,200 per dollar by December as exports moderate and the dollar strengthens on expectations for a tighter U.S. monetary policy, according to DB Financial Investment Co. and NH Futures Co. A technical indicator also signals it could test that level, which implies a drop of over 1% from where it’s currently trading.