Free Trial

1 Month Back To 1280, Led By Onshore Spot

KRW

1 month USD/KRW is back to 1280, -0.80% down on NY closing levels (around 1290). The pair taking its cue from onshore spot, which has been mostly offered since the open. 1285 is presenting resistance on the topside so far today for spot (last around 1280.60).

  • The better tone in risk appetite seen in the majors (higher A$, NZD levels) is likely helping, even if USD/JPY levels are more elevated. USD/CNH is back below 7.00, despite generally negative covid related stories.
  • The equity tone has also improved, although the Kospi remains a regional laggard, last down around 1.8%. The local equity wedge with the won continues to widen.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.