In its monthly report on economic and financial issues, the Bank of Korea (BoK), South Korea’s central bank, said that “Japan’s past change in monetary policy had only a limited impact on the won.”
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“Private consumption in 2023 is likely to be weaker than expected.”
“Housing prices in the country are falling faster than in other countries.”
“The revival of the domestic CP market will be more pronounced in the future.”
“Domestic household debt is falling without much concern about a credit event.”
At the time of writing, USD/KRW is trading modestly around 1,232, having declined from higher levels near 1,235.