DOLLAR-WON: USD/KRW stuck to an extremely tight......>

DOLLAR-WON: USD/KRW stuck to an extremely tight range until the last 40 mins of

onshore trade. An abrupt schedule change to the Trump-Kim summit, which finished

with no agreement & no document signing weighed on KRW into the close. Earlier

in the day NBC reported that "U.S. negotiators are no longer demanding that

North Korea agree to disclose a full accounting of its nuclear weapons and

ballistic missile programs as part of talks this week between President Donald

Trump and Kim Jong Un, according to current and former senior U.S. officials."

The White House is trying to put a positive spin on the meeting, but markets

haven't took the bait as of yet, with modest risk-off flows apparent.

- Earlier in the day there was no notable reaction in USD/KRW as the BoK left

its key rate unch., in line with unanimous exp., with the Bank offering little

new in the rhetoric that came after. M/M SK industrial production provided a

modest beat, printing at +0.5% vs. exp. of +0.3%. Softer than exp. Chinese

official m'fing PMI data provided a layer of support to USD/KRW.

- The rate managed to close above the 21-, 50- & 55-DMA's at KRW1,124.40 with

bulls now targeting a break above the 100-DMA at KRW1,125.96.