USDKRW - Covid-19 Hits Korean Won

As the increase of Covid-19 cases in South Korea keeps increasing (Currently 433 cases), I expect the Korean Won to drop heavily during the following days and weeks. The new cases have increased the fears about greater transmission outside China.

I expect the USDKRW to go higher, especially since the possibility of closing businesses due to the virus. I am expecting the USDKRW to go to higher than 1244 and then break to around 1273 in the following days or weeks. The last time USDKRW went to 1273 was in May 2010.