Won on course to 1,200 against US dollar: analysts
The Korean won is anticipated to keep bouncing back against the U.S. dollar and may rise to the low 1,200-won range per dollar, according to multiple analysts, Sunday, as U.S. inflation is cooling down and the hawkish Federal Reserve is on track to slow the pace of interest rate hikes. The analysts forecast that China will get its economy back on track on after years of strict zero-COVID policies, which also raises hope for the Korean currency to get stronger against the greenback.