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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.
KRW
1 month USD/KRW is back above 1300, with the pair around +0.60% above NY closing levels (near 1294). Once again, a dip below the 1300 level has not proven sustainable in the pair, although we are only just back above this level (last 1301.80). Spot sits slightly higher near 1305.
- Outside of the recovery in US yields, onshore equity market weakness is noticeable. Kospi losses were around 2.3% at one stage, but we are now back to -1.8%, with higher US futures likely helping at the margin. Still, the Kospi is below all key EMAs. The chart below overlays 1 month USD/KRW (which is inverted on the chart) against the Kospi.
- At this stage offshore investors have sold -$441mn of local shares today. March to date is now back to net outflows for the month.
Fig 1: USD/KRW (Inverted) & Kospi Trends
Source: MNI - Market News/Bloomberg
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.
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