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1 month USD/KRW Still Finding Selling Interest Above 1300

KRW

1 month USD/KRW ended Thursday's session little changed versus Wednesday levels. We closed at 1299.5, while onshore spot ended yesterday at 1297.50.

  • Post the Asia close on Thursday the 1-month NDF drifted a little higher but found selling interest above 1300. These moves keep us within recent ranges for this week. Recent highs rest near 1303.5, while this week's low was at 1281.7.
  • The local data calendar is empty today, with consumer confidence due out on Monday.
  • The equity lead is modestly positive for South Korean shares today, following EU/UK gains, with US markets shut for the Thanksgiving holidays.
  • Tensions with North Korea will be the other focus point, although to date these issues haven't impacted broader market sentiment.

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