DOLLAR-WON: USD/KRW spikes after reports that........>

DOLLAR-WON: USD/KRW spikes after reports that South Korea that the government

would take stern action in the case of one sides FX moves, sharp drop to

1,058.80 is thought to have caused intervention from the FC authority.

- KRW has been surging recently, and a strengthening trend throughout 2017,

falling from 1,208 at the start of 2017 to around 1,071 by the end of the year.

- After these reports that the South Korean FX authority would intervene if

necessary saw the rate spike from around 3-year lows at 1,058.80 to highs of

1,069.80 before dropping back slightly to 1,066.15 last. MNI sources note some

suspected stop loss selling on the break of 1,060 was the catalyst for the

suspected intervention.