Dec
29
Biggest Korea Brokerage Sees 10% Won Drop to Stave Off Deflation
By-
Goldman Sachs also sees slide to 1,300 per dollar in 2016
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Won weakened 6% this year in second straight annual loss
South Korea’s biggest brokerage predicts the won is headed for its steepest annual slide in eight years as the government favors depreciation to revive exports and stave off deflation.
Samsung Securities Co. forecasts the currency will sink as much as 10 percent in 2016 to 1,300 a dollar — a level last seen in 2009 — after a 6 percent loss this year that marks the worst annual performance since 2008. Goldman Sachs Group Inc. sees the exchange rate at 1,300 in a year’s time, while Morgan Stanley, Nomura Holdings Inc. and Societe Generale SA included bets against the won among their top trading ideas for the coming 12 months…
Biggest Korea Brokerage Sees 10% Won Drop to Stave Off Deflation
