Barclays
FX Outlook 2026: Navigating the Turn
LIVE28 November 2025USD bearish
Back to CurrenciesModerately Bullish
USD/KRW
KRW undervalued with WGBI inclusion support. Tech cycle recovery adds momentum.
BARC Forecast Path
Cross-Firm Forecast Comparison
Key Drivers
WGBI inclusion
Tech recovery
Current account surplus
USD weakness
Portfolio rebalancing
All Firm Targets (Dec '26)
JPMNeutral1440.00
INGModerately Bullish1400.00
BARCModerately Bullish1390.00
MUFGModerately Bullish1385.00
GSBullish1380.00
BofABullish1370.00
MSBullish1360.00
DBBullish1350.00
Analysis Summary
KRW undervalued with WGBI inclusion support. Tech cycle recovery adds momentum. Targeting 1390.