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Whither The Won?

Monday, 28 Feb 2011 | 10:49 AM ET

With oil prices higher and North Korea issuing more threats, the outlook for the won is less than great, this FX expert says.

South Korea's economy has been expanding nicely, but the spike in oil prices could derail that, according to Ashley Davies, emerging markets-Asia economist and an FX strategist at Commerzbank. Meanwhile, the banks seem to have a troubling number of non-performing loans, and North Korea is making threatening noises again. See Davies' full bearish analysis below, starting at 2:30.

Negative on the Korean Won
Given a rise in Korean household debt and non-performing loans, Ashley Davies, EM Asia Economist & FX strategist at Commerzbank, says he's bearish on the won.

(((CURRENCY FUTURES CHART - NEED TO LABEL i.e. CURRENCY FUTURES:)))

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