A surge in local coronavirus case........>

KOREAN WON: A surge in local coronavirus case count has sapped strength from

KRW, rendering it the worst performer in Asian EMFX. South Korea reported 31 new

cases, bringing their total number to 82. 30 of those cases were found in Daegu,

with 23 patients linked to one "super-spreader."

- Broader risk backdrop hasn't been particularly favourable to KRW either. Japan

said that two passengers of the Diamond Pricess have died. China "only"

delivered an as expected amount of easing in its latest LPR fixings, which may

have disappointed those counting on more aggressive policy action.

- South Korean PPI accelerated to +1.0% Y/Y from +0.7% in January.

- USD/KRW has torn through recent highs and topped out at levels not seen since

early Oct. The rate changes hands +11.50 fig. at KRW1,200.80. A break above the

Oct 2 high/76.4% retracement of the Aug 6 - Jan 14 slide in the KRW1,1206 area

would signal that bullish momentum is alive and well. Conversely, bears look for

a pullback under the psychological KRW1,200.00 level, which would return focus

to the Feb 10 high of KRW1,194.15.

- South Korea's imports/exports data for the first 20 days of Feb is due Friday.