Refinitiv two-week survey of 10 participants showed investors cut short
positions in the Korean won to a five-month low, while short bets on the Thai
baht and New Taiwan dollar rose to multi-month highs. Confidence in the won has
been supported by the launch of 24-hour onshore USD/KRW spot trading, strong AI
chip export-driven recovery and a tighter monetary policy stance. Jeff Ng, head
of Asian macro strategy at Sumitomo Mitsui, said the FX market opening and
Korea’s robust trade performance could draw inflows.
