DOLLAR-WON: USD/KRW trades at 1,136.10, +2.15 on.....>

DOLLAR-WON: USD/KRW trades at 1,136.10, +2.15 on the day. The breakdown of

yesterday's m'fing PMI & accompanying comments, continued to point to notable

headwinds for the Korean econ, even as the headline rate of contraction eased

vs. Feb. Yesterday also saw March's trade data released. While the headline

surplus topped exp., both imports & exports missed exp. Elsewhere, March's CPI,

released earlier today, provided further disappointment, with the headline +0.4%

Y/Y, while the core metric printed at +0.9% Y/Y, missing exp. of +0.7% & +1.3%,

slowing from March's +0.5% & +1.3%. Yonhap has noted that the gov't is set to

submit additional budget measures late this month. Late yesterday, BoK Gov. Lee

noted that the Bank is not in any hurry to implement further easing.

- There has been some focus on a local South Korean report, noting that a South

Korean off'l said that "North Korea could be on the brink of a missile launch

from a pad on its western coast" on Monday, adding further pressure to KRW.

- Near term resistance noted at the 15 Mar high KRW1,139.35, followed by the 11

Oct '18 high at KRW1,144.75 & the 50% retracement of the '16 peak to the '18

trough at KRW1,149.60. Initial supported at the 21-DMA at KRW1,132.49.