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14 Mar 2013
Forex Flash: Holidaying in Seoul? - Societe Generale
Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the fiercest battle of the currency wars has been fought, for several years, quietly and politely between South Korea and Japan.
He sees that the Yen´s rise and the Won´s fall helped change the face of living-rooms around the world, influencing the world´s choice of TV or phone. However, he writes, “Just as Japan fought back with a weaker yen, so Korea's slowing economy became a source of concern. The Bank of Korea may have left rates on hold today but the policy bias indicates it's only a matter of a month or so before rates start to fall. Is Korea going to end up on the list of affordable holiday spots?”
He sees that the Yen´s rise and the Won´s fall helped change the face of living-rooms around the world, influencing the world´s choice of TV or phone. However, he writes, “Just as Japan fought back with a weaker yen, so Korea's slowing economy became a source of concern. The Bank of Korea may have left rates on hold today but the policy bias indicates it's only a matter of a month or so before rates start to fall. Is Korea going to end up on the list of affordable holiday spots?”