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Thank Tank Notes Risk To Consumption

KRW

Won is weaker, USD/KRW rising at the open as the rate plays catch up with the move higher in the greenback. The pair last up 3.75 at 1145.90.

  • On the coronavirus front South Korea reported 1,492 daily new coronavirus cases, back to below 1,500 on fewer tests over the weekend as the country has extended its highest virus rules for another two weeks due to relentless spread of the virus. Health authorities decided to extend the Level 4 distancing measures, the highest in the country's four-tier system, for the greater Seoul area until Aug. 22, with other areas remaining under Level 3.
  • Elsewhere KDI, a state run think tank, said that the South Korean economy is facing heightened uncertainty as the recovery of domestic demand is likely to slow amid a recent spike in COVID-19 cases.
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