Free Trial

The won is not getting a bid despite.....>

KOREAN WON
KOREAN WON: The won is not getting a bid despite the continued rally in the
yuan. USDKRW trades roughly flat on the day wrapped around the 1118 level. The
longer term correlation between the two currencies remains strong though and the
yuan's gains are not being driven by any hawkish shift in PBOC policy. This
suggests that there is every chance that the won will benefit amid the yuan
rally.
- The Kospi equity market is sending a positive signal as the index adds to its
gains today, extending its break above the 50-dma and raising the prospect of a
double bottom formation.
- That said, the CNHKRW chart continues to look bullish following yesterday's
triggering of a triple bottom formation, suggesting won underperformance versus
the yuan.  

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.