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Watching Resistance At 1315

KRW

1 month USD/KRW is probing higher today, pushing back towards 1314. Over the past week or so the pair has found selling interest above 1315. Spot is above 1314, but likewise hasn't spent much time above 1315 recently. Onshore equities have slipped, down by just over 0.50% for the Kospi at this stage. SK Hynix has dipped after the company presented a cautious outlook and revised down its chip demand forecast for the current quarter. Higher USD/CNH levels, which is back close to 6.7700 and lower AUD (post CPI) have also weighed at the margin.

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