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1 Month Close To The Top End Of Recent Ranges

KRW

1 month USD/KRW finished towards the upper end of its recent range in NY trade, just under the 1260 level. Moves above this level have drawn selling interest this week. A clear break above this level would open up the 50-day EMA near 1268. On the downside, moves towards 1250 have been supported in recent sessions. Onshore spot ended yesterday's session at 1260.20.

  • The equity lead for the Kospi is more negative today, with tech underperforming through Wednesday's US session. The SOX fell 2.18%, while the MSCI IT was down 1.14%. To recap, the Kospi was +1.30% for yesterday's session, while offshore investors added $515.8mn to local shares.
  • Other cross asset signals from the US session were less adverse for the won, with US yields lower, while broader USD trends respected recent ranges.
  • The data calendar just has bank lending to households on tap today.

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