1 Month USD/KRW Remains Below Recent Highs, North Korean Military Rhetoric Rises

1 month USD/KRW's dip sub 1310 was supported late in Asia Pac trade on Wednesday, but the pair was mostly range bound for the rest of the session. We got to 1315 in NY trade, but pulled back to close at 1313, down slightly from end Tuesday levels. Spot USD/KRW ended Wednesday's session at 1315.90.

• Earlier today headlines cross from KCNA, where North Korean leader Kim Jong Un stated North Korea should seek more aggressive war preparations/expansion of military drills and a need to boost weapons production.
• Kim also reportedly dismissed the military's top general, to be replaced by current defense minister General Ri Yong Gil. These comments and moves were made at a Central Military Commission meeting.
• Elsewhere, in the equity space, the SOX (-1.87%) and MSCI IT (-1.33%) indices continued to track lower in Wednesday trade, amid broader US equity losses. To recap, Korean shares were strong yesterday, the Kospi closing up 1.21% and back above 2600 in index terms. Offshore investors added $470.1mn to local shares.
• The local data calendar is empty until tomorrow when June money supply figures are due.