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1 Month USD/KRW Eyeing Test Of Wednesday Session Lows

KRW

1 month USD/KRW is making fresh lows for the session, last close to 1285.5. We aren't too far away from Wednesday session lows, under 1284. A break through here could leave the market targeting the 50-day MA, which comes in at 1274.35.

  • Won moves are being dictated by broader USD sentiment, with USD losses continuing., the BBDXY now off by 0.30%. A weaker USD/JPY trend, back to 130.70/75, -0.50% for the session, will be helping the won.
  • In the equity space, the Kospi is up from earlier lows, back around flat, aided by the firming in US equity futures. Offshore investors are still modest sellers of local equities (-$34.1mn so far today).

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