As expected, the BoC raised rates by 25 bps overnight and the Korean central bank are set to do the same today.
The BoK remain very active in the USD/KRW market trying to stem KRW strength. They buy hundreds of millions of USD/KRW almost everyday and that is why they are also actively seen buying EUR/USD, GBP/USD or AUD/USD on dips as they re-balance their reserves.
