USD/KRW falls further towards 1,200 despite concerns over South Korea’s exports

South Korean Finance Minister Hong Nam-ki said Monday that uncertainties to export conditions remain due to higher oil prices.

Hong said that they will “review policies for exporters given risks such as economic slowdown, Ukraine crisis and supply disruptions.”

Earlier this morning, Bank of Korea’s (BOK) Senior Deputy Governor Lee Seung-heon said that the upcoming rate decision meeting will be difficult due to higher inflationary risks and downward pressure on growth.

Market reaction

USD/KRW is keeping its corrective downside intact towards 1,200, despite the concerning comments from the South Korean government official.

The pair was last seen trading at 1,214, down 0.45% on the day.