1 month USD/KRW Back Close To Multi Week Lows, BoK Mins On Tap Today

1 month USD/KRW finished the NY session close to the 1294 level. This is close to multi week lows for the pair, while we are now below all key EMAs except for the 50-day, which comes in around the 1288.50 level. Note that onshore spot ended yesterday's session at 1301.65.

• We have already had Feb trade prices print, with both export and import prices now falling in y/y terms. The export price index is -2.7% (-1.2% prior), while import prices slipped to -0.5% y/y (-1.9% prior).
• Note at 4pm local time today the BoK minutes from the Feb rate decision are due. At 2pm local time we will also find out more details on South Korean President Yoon's trip to Japan, scheduled for later this week.
• Local wires are also reporting this morning that North Korea has fired a ballistic missile towards the east sea. This comes after North Korea test fired two cruise missiles yesterday from a submarine. North Korea rhetoric may remain high given current US-South Korea military exercises, which extend into next week.
• The equity lead is a little more positive in the tech space for the Kospi today. To recap, the index rose 0.67% in onshore trade yesterday, with offshore investors adding $128.1mn to local shares.