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1 Month USD/KRW Tracks Above 1320

KRW

1 month USD/KRW has moved above recent highs, last around 1320, highs at 1322 were touched earlier. Spill over from the firmer USD/CNH and USD/JPY backdrop likely weighing on won sentiment. Local equities are a touch higher. Earlier the first 10-days of trade data for August suggested export growth remained comfortably negative. The authorities have been looking for a better export picture as we progress through H2.

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