Free Trial

USD/KRW continues to creep higher........>

KOREAN WON
KOREAN WON: USD/KRW continues to creep higher still, looking past headlines
revealing some new details about the upcoming extra budget proposal from South
Korea's gov't. FinMin Hong reiterated that it will be submitted to parliament on
Thursday & will top KRW10tn. We already heard from him earlier that this extra
budget will be larger than the one drafted in response to the MERS outbreak in
2015 & that it should be sent to lawmakers by Thursday.
- The rate has moved into positive territory and last changes hands +1.30 fig.
at KRW1,195.10. A move through the KRW1,200.00 mark would take bulls closer to
challenging Monday's peak at KRW1,207.30. Bears continue to eye the 200-DMA at
KRW1,183.58.
- South Korea confirmed further 477 coronavirus cases, bringing the total number
to 4,812. Pres Moon declared that the country is "at war" with the epidemic and
asked all gov't agencies to start operating in a "24-hour emergency situation
room system."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.