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KOREAN WON
KOREAN WON: USD/KRW has lost some altitude and now trades -2.00 fig. at
KRW1,217.90, with regional equity benchmarks taking their cue from Friday's
positive session on Wall St. Little in the way of local headlines to rock the
boat so far, which gestures towards broader picture developments described in
previous bullets.
- South Korea reported trade data for the first 10 days of the month. Daily
average exports tumbled 30.2% Y/Y as the coronavirus outbreak took its toll.
- Just worth noting that South Korea detected a new cluster of coronavirus cases
among the customers of clubs and bars in a district of Seoul. The number of
cases linked to the cluster was 54 on Sunday. Seoul's mayor ordered the closure
of all clubs and bars in the capital.
- A drop below KRW1,214.65, which limited losses last Friday, would open up Apr
10/Mar 27 lows of KRW1,206.90/1,205.20. Bulls need a breach of May 4 pea at
KRW1,229.95 before targeting Apr 21 high of KRW1,240.90.
- Wednesday will see the release of South Korea's unemployment, while terms of
trade hit the wires on Friday.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com

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