USD/KRW has crept higher at the start....>

KOREAN WON: USD/KRW has crept higher at the start to the week, attacking

Friday's best levels, as risk aversion remains. There is a sense of concern over

a new outbreak of Covid-19 in Beijing & accelerating case count increases in

several U.S. states. Meanwhile, South Korea continues to see cluster infections

in greater Seoul area, but a health off'l said that the country has learned a

lesson from the initial wave of the disease and may be able to "avoid the

explosive resurgence of coronavirus".

- Geopolitics has also drawn attention as North Korea resumed its

sabre-rattling, with Kim Jong Un's sister noting that it is high time to break

relations with he "enemy" in Seoul.

- Elsewhere, Yonhap reported that "the number of people who are in search of

jobs hit a record high in May", citing data released Sunday.

- USD/KRW sits +5.35 fig. at KRW1,209.25. Bulls look for a break above the

100-DMA/23.6% retracement of the Mar 19 - Jun 11 slide at KRW1,213.01/1,214.12,

which would open Jun 3 high of KRW1,220.05. Bears look to a pullback through the

200-DMA at KRW1,196.81, towards Jun 11 low of KRW1,188.60.