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Pressured On Monday

KRW

USD/KRW closed on Monday at 1330.60, the pair rose ~0.5% printing its highest level since mid-May.

  • The won was pressured amid strong risk-off flows as concerns escalate about the Chinese economy after a notable wealth manager missed payments to investors yesterday.
  • Technically bulls now target a break of the high from 14 August (1335.00) this opens high from May 17 (1342.55). Bears target the 200-Day EMA (1301.44) to turn the tide.
  • The domestic data docket is empty until Thursday when July Terms of Trade cross.

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