USD/KRW has edged higher in early........>

KOREAN WON: USD/KRW has edged higher in early trade this week, last dealing at

KRW1,138.70, with the KRW struggling on the back of disappointing domestic trade

data covering the first 20 days of April. Over that period total exports fell

8.7% Y/Y, with chip exports -24.7% Y/Y and exports to China -12.1% Y/Y.

- Negative sloping resistance from the 8 April high is located at KRW 1,139.45,

with a break opening a move to the recent peak at KRW1,144.95. Support is

located at the 21-DMA of KRW1,136.77.

- Looking ahead, GDP data headlines the South Korean docket this week, and will

hit on Thursday.