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USD/KRW Gaps Higher At Reopen

KOREAN WON

Catching up with yesterday's demand for USD, spot USD/KRW reopens on the front foot and last deals +2.45 fig. at KRW1,188.00.

  • South Korea is on alert for Typhoon Maysak, which passed near the Kori Nuclear Power Plant, triggering an automatic halt of four reactors.
  • Yonhap reported that South Korean President Moon will meet with leaders of the country's major financial groups today to discuss ways of funding and implementing his New Deal project.
  • Bulls look for a rally past Aug 24 high/50-DMA at KRW1,192.65/1,193.26, which would shift focus to Aug 3 high of KRW1,196.05. Meanwhile, a fall through Aug 31 multi-month low of KRW1,179.10 would give bears some fresh impetus.
  • South Korea releases its BoP data on Friday.

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