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Following Broader USD Trends, President Yoon's Trip To The US (Next Week) Coming Into Focus

KRW

Apart from a brief dip sub 1312 in early trading, 1 month USD/KRW has stuck to recent ranges. The pair last just above 1316. This is in line with broader USD swings, with major dollar indices higher now. On the topside for USD/KRW, focus is likely to rest on any retest of the 1320 level, which could bring the 200-day MA back into focus (1324.68).

  • Outside of a President Yoon interview with Reuters, local news flow has been fairly light. The President spoke about potential military aid to Ukraine, tensions with North Korea and the Taiwan issue (see this link). This comes ahead of Yoon's trip to the US next week.
  • We may get more headlines later from the BoK, as the Deputy Governor from the central bank attends a conference on Korean potential growth.
  • In the cross asset space, local equities are a touch firmer, outperforming weaker trends in HK/China. Still, offshore investors have sold $100mn of local equities today.

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