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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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The won is slightly stronger, reversing opening losses. USD/KRW last down 0.15 at 1115.25, hovering around the lowest levels since May 10 but staying within Friday's range.

  • Data earlier showed South Korea's industrial output fell 1.6% M/M against estimates of a 0.4% increase. The figure denoted the biggest decline in 11 months as production in the chipmaking industry slumped due largely to a higher base effect
  • South Korea reported 430 daily new coronavirus Monday, in the 400s for the second consecutive day partly due to fewer tests over the weekend, while health authorities are grappling with sporadic cluster infections across the nation. At 480 on Sunday the figure was below 500 for the first time in almost three weeks.

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