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Coronavirus Cases Rise To Near 700

KRW

The won is weaker on Friday, USD/KRW gapped higher at the open and the rate has continued higher since, the pair last up 4.70 at 1118.40 – the highest since May 27.

  • South Korea' reported 695 daily new coronavirus cases on Friday, above 600 for the third day, while the vaccination drive for the vulnerable population and priority groups gathers steam.US President Biden said on Thursday that the US plans to deliver vaccines to countries with shortages, including South Korea. The US has previously pledged to provide up to 80m doses.
  • Elsewhere UK PM Johnson spoke with South Korean President Moon and praised the South Korean leader for his in the upcoming G7 summit. Speaking to Johnson, Moon said South Korea would participate actively in the G7's discussions on efforts to resolve such issues as the pandemic, economic recovery and climate.
  • There are no domestic releases on the economic docket today.
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