Archived IMT (2010.07.09)
BANK OF KOREA surprisingly raised rates by 25 bps to 2.25% after yesterdays hike from Malaysia. Weekly reversal in USDKRW suggests 1.160 is viable especially on a risk appetite play at expense of USD. Recall the Won was the biggest victim back in May when markets were hit by a combination of Korean-nuclear tensions and European sovereign debt concerns. But the Won rocketed in mid June after the PBOC announcement to add currency flexibility triggered expectations of an RMB revaluation.Citigroup global equity strategists prefer Russia, Turkey, Korea & Taiwan as their top markets, cut its LatAm equity allocation to underweight on weakening earnings & challenging interest rate envmt.
Reality Check Pre Jobs
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