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Forex - Flows - USD/KRW off early highs; Domestic banks asked to refrain from FX loans
Written by article default Friday, 08 October 2010 02:52
Record high CNY mid-point fix and real sellers attracted by USD/KRW bounce to 1124 highs, sent the pair dribbling to 1116 lows into Asian lunch trades, though trades should find support on suspected BoK presence at pullbacks and Kospi -0.2%. Some caution also lent by newswire reports citing an unnamed official from the financial regulator, FSS saying that the domestic banks have been asked to refrain from foreign currency lending "if not urgent" as demand for such loans would increase on the back of a stronger KRW.