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South Korea Extends Social Distancing For Two Weeks


The won is stronger today, reversing some of yesterday's weakness. USD/KRW last down 3.70 at 1172.55 after peaking at 1179.65 earlier this week.

  • South Korea extend current social distancing restrictions for two weeks and decided to extend restrictions on the business hours restaurants and cafes level 4 social distancing restrictions by one hour. Officials did, however, decide to allow private gatherings of up to four in restaurants and cafes if the party includes two people who are fully vaccinated. There were 2,052 new cases in the past 24 hours, down from 2,152 yesterday.
  • Data earlier showed PPI rose 7.1% Y/Y in July, above 6.4% printed previously, the M/M reading rose 0.7% denoting the ninth monthly rise. The increase was attributed to a modest rise in prices of food and energy.

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