USD/KRW 1 Month Range Bound On Mixed Cross Asset Signals

1 month USD/KRW ended Monday's NY session at 1338, little changed from Friday closing levels. Dips back to 1336 were supported post the Asia close, while highs in NY around 1341 were faded. This leaves the pair very much within recent ranges. For onshore spot, we ended yesterday's session at 1342.75.

• KRW 1 month didn't get much benefit from lower USD/CNH levels, although the firmer USD/JPY backdrop (buoyed by higher US yields) clearly worked the other way. The equity tone was also better in the tech space during US trade, the MSCI up 2%, the SOX index +2.83%.
• Prospects for SoftBank's Arm unit to do a US IPO appeared to buoy sentiment in the tech space.
• To recap, the Kospi finished 0.17% higher yesterday, while offshore investors added +$127.3mn to local shares.
• We have already had the August consumer sentiment index print, which eased slightly, while inflation expectations were steady (see this link for more details). Later on, 2Q household credit figures are due.
• Also note, BoK Governor Rhee and Finance Minister Choo will attend a parliament session at 10am local time.