Forex News: Seoul traders expect Korean FX authorities to continue intervening in favor of KRW to cut inflation expectations. "The authorities won't stop intervening until the pair hits their (suspected) target level of 980," says local bank trader; "if the FX rate sinks like today, the volume of traders' (dollar-sales) to cut their losses will be huge. They can't beat the government." Trader forecasts USD/KRW, last at 1,004.90, to touch 980 in coming sessions, hover around that level on view oil prices have peaked, stock market bottomed out, current account deficit to turn to surplus soon.
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