Free Trial

​USD/KRW Continues To Soften

KOREAN WON

USD/KRW has edged lower, playing catch up to yesterday's broad-based USD
sell-off. Struggling greenback continues to apply pressure to the pair, spot
USD/KRW trades -3.90 fig. at KRW1,192.25 as we type.

  • North Korea's leader Kim praised his country's nuclear potential, noting that
    it guarantees national security and peace.
  • With the rate testing Jul 22 low of KRW1,192.55, bears look for a clean
    break here before targeting Jul 7 low of KRW1,189.80, followed by Jun 11
    low of KRW1,188.60. Bulls need a recoil above the 200-DMA at KRW1,197.05,
    before taking aim at Jul 24 high of KRW1,203.10.
  • South Korea's consumer confidence comes out tomorrow, Business Survey is due
    Thursday, industrial output hits on Friday and trade data will be released
    on Saturday.

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.