I have QWERT keyboard, but I have set the keyboard settings in Windows to DVORAK. So if I type "test" it comes out as "y.oy". Would the key logger log "test" or "y.oy" in its records?
Ignoring the direct hardware reading (via driver privileges), a software key-logger can be designed both ways: it can ignore or not the regional and KB settings.
It's more likely (about 4:1) that a software will consider the current regional settings in all aspects related to that. Statistically, that's what I determined. I do prefer to ignore those settings, but most programs (including many banking ones) don't. Apparently It's easier to read and use the regional settings.