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Onshore Won Gains After Weak Start To Week For Greenback

KRW

Spot USD/KRW trades -2.70 figs at KRW1,197.70 after a lower re-open, which comes in the wake of overnight greenback sales. Bears look for losses past the 50-DMA at KRW1,190.31, which would bring the 100-DMA at KRW1,185.24 into play. Bulls need a break above Jan 28 high of KRW1,207.25 to prove that they remain in charge.

  • USD/KRW 1-month NDF last at KRW1,198.58, a touch higher on the day. Bulls keep an eye on Jan 28 high of KRW1,214.39, with bears looking to a dip through the 50-DMA at KRW1,191.65.
  • North Korean state media confirmed that the country's rubber-stamp legislature held a two-day session through Monday. Official communique lacked any fresh insights on Pyongyang's missile tests, as lawmakers seemingly focused on domestic issues.
  • FinMin Hong will appear in parliament on two separate occasions today.
  • South Korea's BoP current account balance will hit the wires on Thursday.
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