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USD/KRW Back Below 200-Day MA, 50-day At 1313 The Next Test

KRW

USD/KRW continues to track lower, the 1 month NDF down over 1% versus NY closing levels, last in the 1319/20 region (lows for the day at 1318.45). This puts us comfortably back below the 200-day MA (near 1326), while the 50-day MA isn't too far away at ~1313. The won is comfortably the best performer within Asian FX today. A move sub 6.9000 in USD/CNH has helped in the latest round of dollar selling. The recovery in US equity futures from earlier weakness is also a positive.

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