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1 Month USD/KRW Ticks Higher, North Korea Fires Ballistic Missile

KRW

1 month USD/KRW sits marginally higher, last near 1326.50. Near term resistance still appears ahead of the 1327 level. Highs from earlier in the week were just above 1333.

  • Broader USD sentiment is ticking more positive ahead of the upcoming US CPI release, the BBDXY last above 1251.
  • Headlines have also crossed that North Korea may have fired a ballistic missile. This comes ahead of an expected meeting between North Korean leader Kim Jong Un and Russian President Putin.
  • Such tests haven't impacted sentiment in any meaningful way in terms of South Korean assets in recent months.
  • Local equities are modestly weaker, amid weaker tech sentiment, lower US futures. Offshore investor flows are close to flat at this stage.

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