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Typhoon Approaches South Korea; Vice Foreign Min To Visit U.S.

KOREAN WON

USD/KRW re-opened a touch below Friday's close and last trades at KRW1,188.80, just shy of neutral levels.

  • Maeil Business Newspaper reported that South Korea's Vice Foreign Min Choi will visit the U.S. on Sep 9 and meet with U.S. Dep Sec of State Biegun.
  • Meanwhie, South Korean Central Disaster and Safety Countermeasure Headquarters raised typhoon alert to the highest level as the Haishen typhoon approaches.
  • Losses past Aug 31 low of KRW1,179.10 would give bears a green light for targeting Feb 12 low of KRW1,176.40. Bulls look for a move through the 50-DMA at KRW1,192.72, which capped gains last Friday. This would open up Aug 3 high of KRW1,196.05.
  • Wednesday's unemployment data headlines this week's docket.
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