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16 Mar 2020

South Korea: BoK delivers an emergency rate cut – Standard Chartered

The Bank of Korea (BoK) delivers an emergency rate cut of 50bps due to coronavirus impact, economists at Standard Chartered Bank brief. USD/KRW is trading at 1228.95.

Key quotes

“The BoK cut its base rate by 50bps to 0.75%, following the Fed’s 100bps cut and dovish moves by other central banks.”

“We do not see further rate cuts this year; however, the BoK may be open to further cuts depending on the coronavirus impact.”

“Concerns about the worsening global growth outlook and weak risk sentiment have added to our long-held bearish view on the KRW.” 

“We are looking for opportunities to express our bearish KRW view versus the USD or other currencies.”

 

Mar 16, 2020

GBP/JPY struggles near 7-month lows, around 130.00 mark

The GBP/JPY cross dropped to over seven-month lows on Monday, with bears now eyeing some follow-through weakness below the 130.00 round-figure mark. T
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Mar 16, 2020

Gold: Selloff similar to the financial crisis – TDS

Gold positioning continues to be liquidated aggressively as rebalancing and margin calls prompt funds to sell the yellow metal, seeing prices post the
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