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USD/KRW Dips To Multi-Week Lows

KRW

1 month USD/KRW got back to mid-June lows near 1301 early. We are slightly higher now at 1302. A break below 1300 would have the market targeting a move back to the 1295 region. Note the pairs remains comfortably above its 50-day MA, which currently sits at 1286.35.

  • The wedge between USD/KRW and the Kospi has diminished somewhat, see the chart below. The Kospi has pushed up again today, +0.90% so far.

Fig 1: The Won Plays Some Catch Up With Firmer Onshore Equities

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1 month USD/KRW got back to mid-June lows near 1301 early. We are slightly higher now at 1302. A break below 1300 would have the market targeting a move back to the 1295 region. Note the pairs remains comfortably above its 50-day MA, which currently sits at 1286.35.

  • The wedge between USD/KRW and the Kospi has diminished somewhat, see the chart below. The Kospi has pushed up again today, +0.90% so far.

Fig 1: The Won Plays Some Catch Up With Firmer Onshore Equities

Keep reading...Show less