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USD/KRW 1 Month To Fresh Highs, Offshore Outflows Nearly $1bn For This Week

KRW

1 month USD/KRW has spiked to fresh highs in recent dealings, the pair last near 1302.5, with earlier highs above 1303. A clean break above this level could see early July highs around 1312.50 targeted. Onshore spot is in the 1304/05 region.

  • Local equities are mixed, but have largely tracked sideways since the open. The Kospi is trying to push higher, but offshore investors are net sellers of local equities so far today, -$180.7mn, which brings week to date outflows close to $1bn at this stage.
  • A rebound in USD/CNH has likely weighed on the won, while AUD and NZD sit below session highs as well.

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