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USD/KRW 1 Month Back To 1329/30, Above Simple 200-Day MA

KRW

1 month USD/KRW broke above 1330 in NY trade, amid broad USD gains, before closing around the 1329 level. The pair was mostly on the front foot post the Asia close and we are back above the 200-day MA (close to 1326.45), losing nearly 1% in won terms for Thursday's session. Early May highs in the pair came in just above 1340. Note onshore spot ended yesterday's session at 1326.25.

  • There is a weaker lead from tech related equities today, with both the SOX and MSCI IT faltering in US trade, although losses weren't large and both indices remain relatively range bound.
  • To recap, the Kospi fell 0.22% yesterday, while offshore investors sold -$42.6mn of local shares.
  • On the data front today, we have Mar money supply figures, which are unlikely to be a market mover. Note the Finance Ministry releases its monthly economic assessment at 10am local time.

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