News Headline Summary

Market talk that the Bank of Korea has stepped aside after being a huge buyer of USD/KRW at the 1090 area over the past couple of days; seeing USD/KRW move to a 14 month low

‘Market talk’ – Signifies information that has not been formally tested through traditional journalistic channels and therefore is to be treated as unsubstantiated. Any interpretation of the talk is taken at the readers own risk and is a representation of the rumours within the market place and never generated by ourselves.

Update details:

- KRW may appreciate a further 9.1% from yesterdays close to 1,000 USD/KRW by the end of 2013, according to analysts at Bank of America.
- Also market talk of a US bank selling.

Reaction details:

- USD/KRW moved 19 pips from 10901 to 10882 in the space of 3 minutes.
- Currently trades 10871 at session lows.

Print 01:42, 07 Nov 2012 - Asian News - Source: RANsquawk/IFR