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USD/KRW has meandered around neutral levels, amid little to push the rate either way. It last trades at KRW1,184.95, little changed on the day.
- Yonhap reported that South Korea and the U.S. started their joint military drill, scaled-back due to the coronavirus pandemic.
- Seoul's Covid-19 case count continues to draw attention, amid concerns about resurfacing infections in the greater capital region.
- The rate hovers just above its multi-month lows, with bears looking for a dip through Aug 13 low of KRW1,181.65. This would expose Mar 5 low of KRW1,179.90. Topside focus falls on Aug 10 high of KRW1,189.10, a break here would open up Aug 3 high of KRW1,196.05.
- Worth watching the 50-DMA, which is heading towards the 200-DMA and now sits just above it.
- South Korea reports trade data for the first 20 days of Aug on Friday.