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USD/KRW Back Sub 1340

KRW

Won is trading with a firmer bias post the BoK announcement, although the 25bps hike was widely expected, so it’s difficult to attribute the decision to this the move. Broader USD sentiment is softer, so this is helping, while onshore equities are higher (+0.67%), which is another positive. 1 month USD/KRW was last at 1338.50, with some modest buying interest evident sub 1338. Bond futures are lower, with the 10yr off as much as 48 ticks.

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