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USD/KRW continues its aggressive.........>

KOREAN WON
KOREAN WON: USD/KRW continues its aggressive bullish run. The number of cases
confirmed in S. Korea has soared to 602, with the 6th domestic fatality
reported. To make things worse, Samsung was forced to temporarily shut down one
of its production facilities after an employee tested positive for Covid-19. 
- S. Korea raised its virus alert to the highest level & ramped up containment
measures. Finance Ministry said in a statement that it stands ready to intervene
in FX mkts, while BoK Gov Lee will convene an emergency meeting at 15:00 local
time. Pres Moon said that the gov't could deploy unprecedented policy measures,
with Yonhap reporting that "all steps including extra budget" are on the table.
Per Shinmun, the ruling party has called for an extra budget of >KRW10tn.
- USD/KRW last seen +6.75 fig. at KRW1,215.90, has ebbed off a fresh half-year
high. Bulls look to take out the Aug 6 multi-year peak at KRW1,223.10. On the
flip side, bears need to fill the gap from the Feb 20 high of KRW1,201.95.
- Looking ahead, Thursday's monetary policy decision from the BoK will be
closely watched. The local data docket features consumer confidence (Tuesday),
Biz. Survey M'fing & Non-M'fing (Wednesday) & industrial output (Friday). 

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