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Onshore USD/KRW trade reopened lower.....>

KOREAN WON
KOREAN WON: Onshore USD/KRW trade reopened lower and the spot threatened to
breach the KRW1,200.00 figure, but has trimmed losses since, as the initial
risk-on flows have unwound somewhat. Little of note out of South Korea so far,
with broader cross-currents driving price action.
- USD/KRW last trades -2.55 fig. at KRW1,204.65, with bears looking to take out
the psychological KRW1,200.00 barrier and the 200-DMA, intersecting at
KRW1,197.04. Bulls look for a recoil above Mar 27 low of KRW1,205.20, towards
the 100-DMA at KRW1,210.93.
- South Korea's unemployment comes out on Wednesday, with terms of trade due on
Friday.

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