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USD/KRW charted a spinning top...........>

KOREAN WON: USD/KRW charted a spinning top candlestick yesterday, even as it
shed 11.50 fig. on the day owing to a sharply lower open. China's decision to
reduce some of its punitive tariffs on U.S. imports allowed the rate to extend
losses, ahead of a modest recovery into the close.
- That said, the rate has staged a fairly strong rebound today and trades +7.95
fig. at 1,187.85, ticking even higher upon a breach of the 50% retracement of
the Aug 6 - Jan 14 bear mkt at KRW1,186.88. USD/KRW has absorbed yesterday's
pre-NFP greenback strength & a receding risk appetite, which has seen the KOSPI
lose ground from the off.
- A firm push above the Feb 5 high of KRW1,192.35 would put the Feb 3
multi-month high of KRW1,198.50 in focus. Bears need a drop below the 200-DMA at
KRW1,180.35 before attempting a move through KRW1,178.33/1,179.90, the 38.2%
retracement of aforesaid bear mkt/yesterday's low.
- The main data release to watch next week is South Korean unemployment, due for
release on Wednesday. 

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