Onshore USD/KRW traded relatively........>

KOREAN WON: Onshore USD/KRW traded relatively rangebound for much of the

Wednesday session, with the 100-dma support underpinning at 1186.51. Wires note

decent South Korean importer demand for the pair, helping stem losses seen at

the Monday open and keep focus on the 50-dma resistance at 1196.70. Exporter

sales aren't seen until the 1,200 mark according to the report. Offshore markets

extended gains following the SK close, with the 1m NDF outright rising to the

best levels since Sep11 in recent trade.

-Mimicking broader EMFX markets, KRW options activity sat below average

Wednesday, although downside interest via USD/KRW puts was prevalent. Trades

consistent with 1,150/1,174 put spreads rolling off in mid-December crossed in

size (just over $150mln) during Asia-Pacific hours.

-With little on the domestic data calendar, KRW remains driven by global trade

sentiment, with relations between Japan and South Korea appearing to worsen

since the beginning of the week.