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1 Month USD/KRW Back To 1340, YTD Highs Within Sight

KRW

1 month USD/KRW finished the NY session at 1341, +0.58% for Tuesday's session. The pair spending the post Asia close tracking higher, moving up with USD/CNH. USD/KRW 1 month is right around May highs, although is sub late April highs near 1344, which marked YTD highs as well. Spot finished yesterday onshore at 1338.85.

  • Weaker equity leads from major indices may weigh at the margin for the Kospi, although tech related indices outperformed slightly (MSCI IT up 0.06%, SOX down -0.13%). The Kospi finished close to flat yesterday, while offshore investors added +$121.5mn to local shares.
  • The local data calendar is quiet today.
  • Earlier the Finance Minister held a meeting to discuss measures to boost exports, with the minister noting that R&D, financial support is needed for the display sector. The minister meets with consumer groups later today (2pm local time).
  • President Yoon will also hold a summit with Canadian PM Trudeau in Seoul today.

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