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Coronavirus Cases Hit Five-Week Low Over Weekend

KRW

Won is broadly flat on the session, JRW/KRW last up 0.10 at 1157.15. Shortly after the open the pair rose to session highs of 1159.55 before paring back. The rate sits just above the 50-DMA at 1151.90.

  • On the coronavirus front there were 1,375 new cases in the past 24 hours, a five-week low based on fewer tests over the weekend. On Friday authorities decided to extend the current distancing measures (Level 4 in the greater Seoul area, which is the highest in the four-tier system, and Level 3 in other regions) through Oct. 3. Over 1.2 million doses of coronavirus vaccines produced by Moderna arrived in South Korea on Sunday, the firm has now provided around 60% of the promised 7m doses.
  • Markets look ahead to comments from FinMin Hong who will attend a parliamentary session today to review 2020 fiscal-year govt spending, while trade balance data is due tomorrow.
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