BOK Governor Pick Plays Down FX Risks, Spurns Dove-Hawk Labels

Bank of Korea governor nominee Hyun Song Shin played down the importance of recent slides in the local currency and cautioned against simplistic labeling of policy as dovish or hawkish as he prepares for a confirmation hearing.

“The level of the exchange rate itself doesn’t really carry that much significance, so it shouldn’t be overinterpreted,” Shin told reporters in Seoul, adding that indicators of dollar funding conditions remain solid despite the currency’s weakness.