DOLLAR-WON: USD/KRW edges lower in early onshore.....>

DOLLAR-WON: USD/KRW edges lower in early onshore trade, with the rate last -~1.5

figures at KRW1,213.90. Initial tick lower after USD/CNH edged lower in NY

hours, aided by a BBG sources piece suggesting that senior PBoC off'ls reassured

foreign companies that the currency won't continue to weaken significantly.

- Early comments from BoK Governor Lee saw the rate off session lows, as he

pointed to the Bank being willing to ease MonPol further, if required, however,

he did highlight that it is too early to talk about such a move. This came after

a meeting between BoK & gov't officials, with little in the way of fresh insight

re: market mechanics from the press conference that followed.

- The mins of the BoK's latest meeting were released on Tuesday. The BoK cut the

policy rate by 25bp at its most recent meeting, with 1 dissenter noted. BoK

board members are worried about below-potential growth & weaker demand-side

inflation. The hawkish dissenter, Lee Ilhoung, was seemingly a little more

focused on fin'l stability risks, but still pointed to concerns around inflation

as he argued for a better policy mix i.e. heavier fiscal lifting.

- Cycle high (KRW1,223.10) & Mar 3 '16 high (KRW1,226.75) are the bulls' tgts.