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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.
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Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
USD/KRW has been offered and last........>
KOREAN WON: USD/KRW has been offered and last deals -8.25 fig. at KRW1,235.40.
South Korea announced some steps on FX mkts this morning, after FinMin Hong told
lawmakers Tuesday that the gov't is considering stabilisation measures. Per
Yonhap, Hong anticipated the readjustment of a cap on domestic lenders' FX
forward positions. The cap has been lifted to 50% from 40% of domestic banks'
equity capital and to 250% from 200% in case of foreign banks. Changes will take
effect on Mar 19. South Korea sees these steps as helping alleviate USD shortage
at home amid a global flight to safety.
- RTRS cited FinMin Hong as saying today that the gov't is readying a
"comprehensive financial support" package to help businesses hit by the
coronavirus crisis. These comments came the day after parliament passed a
KRW11.7tn extra budget to mitigate the economic toll of the Covid-19 outbreak.
- Bears look for a breakout from y'day's range to the downside. Should y'day's
low of KRW1,231.95 give way, they could target Monday's high of KRW1,226.25.
Bulls keep an eye on KRW1,249.97, which capped gains y'day.
To read the full story
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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.