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DOLLAR-WON: KRW pressured by a trifecta of issues....>

CANADA DATA REACT, DOLLAR-WON
DOLLAR-WON: KRW pressured by a trifecta of issues this morning:
- 1) Korean being removed from Japan's export white list (which was largely
expected)
- 2) The latest missile test conducted by North Korea
- 3) The latest escalation in the Sino-U.S. trade war
- USD/KRW has traded as high as KRW1,197.00 this morning, and last deals ~5
figures higher on the day at KRW1,193.90.
- KRW1,200 presents the clear psychological barrier on the upside, with many
suggesting that official intervention measures may be employed to protect the
figure, even though various government & BoK officials have stressed that no one
level in FX rates is key in recent weeks.
- Do note the South Korean cabinet & BoK will be holding meetings at 14:00 local
time. Expect some dialogue between the government & the central bank.
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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