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USD/KRW 1 Month Back Above 1270, Onshore Markets Closed Tomorrow

KRW

1 month USD/KRW couldn't test below recent lows sub 1265 post the Asia close, with weaker equity sentiment providing some support for the pair through EU/US trading. We pushed above 1275 in NY trading before closing just under 1274. Onshore spot ended yesterday at 1267.15.

  • Note that today is the last trading day of the year for year, with stock and FX markets closed tomorrow.
  • The equity lead for the Kospi is a negative one again today. Tech related indices remained under pressure in US trading. To recap, the Kospi lost 2.24% yesterday, while offshore investors sold just over $400mn of local shares, bringing month to date net outflows to just over $1bn.
  • On the data front today we have industrial production figures out soon for November. The market looks for -0.8% m/m, versus -3.5% prior. This would take the y/y print to -4.9%. The cyclical leading index also prints.
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