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USD/KRW 1 Month Pushes Above Tuesday Highs, Foreign Selling Weighing On Local Equities

KRW

The won is underperforming in the first part of Wednesday trade. The 1 month NDF is back to 1346, which is above Tuesday highs and around 0.30% weaker versus NY closing levels. It is also back above the 20-day EMA. Highs from Monday in the pair came in close to 1353.

  • Local equities are generally underperforming broader regional trends. The Kospi sits -0.45% weaker at this stage. Headwinds have come from weaker US Nasdaq futures, while offshore equity outflows have been -$224.5mn so far today.

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