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Citi Cautious On Prospect Of KRW Strength

KRW

Friday saw Citi flag that "despite month-end, our onshore traders note that exporters are not really coming out to sell USDs given the broad USD bid demand over the past few sessions. Given KRW's weak Jan-Feb seasonality coupled with local equities outflow, our traders do not like USD shorts here and thinks the pair may be relatively well bid and remain stuck within KRW1110-1120 range even in the scenario where USD/CNH goes lower."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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