Bank of America
FX Outlook 2026: Structural Dollar Headwinds
LIVE5 December 2025USD bearish
Back to CurrenciesBullish
USD/KRW
KRW undervalued and set to benefit from WGBI inclusion flows and tech cycle reco
BofA Forecast Path
Cross-Firm Forecast Comparison
Key Drivers
WGBI inclusion flows
Tech cycle recovery
Current account surplus
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 and set to benefit from WGBI inclusion flows and tech cycle recovery. Current account surplus provides fundamental support. Targeting 1370 by year-end.