Korean Won's Correlation With Yen Jumps as BOJ Decision Nears [BNN Bloomberg (Canada)]
Shinhan Financial Group Co Ltd American Depositary Shares (SHG)
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Source: BNN Bloomberg
The currencies of the neighboring nations are moving more in tandem as the BOJ is widely expected to abolish its negative-interest-rate policy when its two-day meeting ends Tuesday. The 60-day correlation between the won and yen rose to 0.35 this month, the highest since May 2023. A reading of 1 would mean the two move in lockstep. The looming BOJ decision is focusing investors around the region on the reaction of the yen because of the potential for it to impact other Asian currencies. The won and yen have long had a relatively high correlation because the two countries compete in export markets. “The won is still likely more linked to the dollar than the yen, but due to BOJ, the yen has been a key trigger among major currencies, causing the dollar-won to fluctuate accordingly,” said Min Gyeong-won, an economist at Woori Bank. As a result, “the won is seen moving in line with the yen.” Not everyone expects the BOJ decision to have a major impact on the yen, or other Asian fore
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News
- Shinhan Financial Group Co., Ltd. (NYSE:SHG) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Shinhan Financial Group files its FY2023 Form 20-F to the SECPR Newswire
- EQT AB (publ) Q1 Announcement 2024 [Yahoo! Finance]Yahoo! Finance
- Shinhan Financial Group Co., Ltd. (NYSE: SHG) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Rupee Drops to Record Low as Dollar Strength Weighs on Sentiment [BNN Bloomberg (Canada)]BNN Bloomberg
SHG
Sec Filings
- 5/9/24 - Form 6-K
- 4/26/24 - Form 6-K
- 4/26/24 - Form 6-K
- SHG's page on the SEC website