USD/KRW gapped higher at the open........>

KOREAN WON: USD/KRW gapped higher at the open after charting a Doji candlestick

yesterday. Although the rate has eased off since, the downside has been limited

by KRW1,160.00 so far, which prevents the filling of the gap.

- The initial move occurred as the rate played catch-up to yesterday's market

reaction to a RTRS piece, which poured cold water on the potential of a quick

and smooth finalisation of the phase-one U.S.-China trade pact.

- USD/KRW last seen 3.75 fig. higher at KRW1,160.65. Bulls look for a break

above the 200-DMA, which comes in at KRW1,166.96, before targeting the Nov 1

high of KRW1,171.00. Meanwhile, bears would be pleased by a clean break of the

KRW1,160.00 figure, which would give them a green light for targeting

KRW1,155.90, where the rate bottomed yesterday.

- Participants await signals re: Seoul's relations with Tokyo, following a brief

conversation that took place between S. Korean Pres Moon & Japanese PM Abe. A

U.S. off'l commented yesterday that it was an "encouraging sign."

- No major data releases figure on the South Korean docket this week. Domestic

unemployment headlines next week's calendar.