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USD/KRW Spikes to 1320, Fresh Multi-Week Highs

KRW

USD/KRW is breaking higher. Spot is up to 1320, fresh highs going back to mid June. Today's KRW fall is just over 0.7%. Note the June 15 cyclical high was just under 1327. There is no sign of official rhetoric yet around weaker won levels, but this will be watched for this afternoon. Onshore equities are weaker, but only to the tune of -0.50%. Broader USD sentiment is stronger though. We have seen USD/CNH push back above 6.8000, while the DXY is now +0.15% on NY closing levels. AUD and NZD are also around session lows.

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USD/KRW is breaking higher. Spot is up to 1320, fresh highs going back to mid June. Today's KRW fall is just over 0.7%. Note the June 15 cyclical high was just under 1327. There is no sign of official rhetoric yet around weaker won levels, but this will be watched for this afternoon. Onshore equities are weaker, but only to the tune of -0.50%. Broader USD sentiment is stronger though. We have seen USD/CNH push back above 6.8000, while the DXY is now +0.15% on NY closing levels. AUD and NZD are also around session lows.