After rising as high as 1133 at the......>

KOREAN WON: After rising as high as 1133 at the open, USDKRW has dropped back to

1131.5 as of now, keeping the short-term outlook neutral even as the longer term

outlook deteriorates due to upside pressure on CDS spreads and US-Korea real

bond yield spreads. 

- KRWJPY has failed to extend losses below its 200-dma last week which now comes

under pressure as resistance with the pair last at 9.98.

- Bulls look to close back above 1140 to reignite the broader bullish trend,

while bears need a close below up trendline support to take the initiative. 

- Donga Ilbo reported today that North Korea is not responding to U.S. offers

for talks.