South Korean Won: Hawkish BoK hold supports gains against US Dollar – Societe Generale

Societe Generale notes that the Korean Won (KRW) has risen to a fresh two-year high near 1323/USD after the Bank of Korea (BoK) unanimously kept its policy rate at 3.0% with a hawkish tone. The bank plans to maintain a restrictive stance until inflation converges to 2% and expects stronger economic growth in 2026 and 2027, while exporter Dollar selling and robust exports further support KRW.