MUFG
2026 FX Outlook: Post-Peak USD World
LIVE19 December 2025USD bearish
Back to CurrenciesModerately Bullish
USD/KRW
WGBI inclusion drives structural portfolio inflows. Tech cycle recovery supports
MUFG Forecast Path
Cross-Firm Forecast Comparison
Key Drivers
WGBI inclusion
Tech cycle
BOK policy
Current account
Geopolitical risk
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
WGBI inclusion drives structural portfolio inflows. Tech cycle recovery supports export earnings. BOK on hold maintains carry. USD/KRW to decline to 1385 by year-end.