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1 Month NDF Close to 1330, President Yoon Heads To The US Today

KRW

1 month USD/KRW was mainly on the front foot post the Asia close on Friday. We got just above 1330 post firmer US data, before settling back closer to 1328 into the close. Note the onshore spot close from Friday's session is nearby at 1327.85. More broadly the 1 month NDF remains above the 200-day MA, which sits just under 1325.

  • The local data calendar is quiet today, with Q1 GDP due tomorrow. BoK Governor Rhee will reportedly hold a meeting with heads of local banks today.
  • Also note President Yoon departs South Korea for the US today. He will hold a summit with US President Biden on April 26.
  • In the equity space, the lead for the Kospi is negative today, given some underperformance of tech indices through Friday's session. The SOX lost 0.82%, while the MSCI IT was only down slightly.
  • To recap, the Kospi lost 0.73% on Friday, although offshore investors added $91.3mn to local equities, bringing week to date flows to +125.7mn.

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