USD/KRW has moved higher, in the wake....>

KOREAN WON: USD/KRW has moved higher, in the wake of yesterday's risk-off flows,

and last changes hands +5.25 fig. at KRW1,227.30. South Korea's BoP current

account surplus shrank to $6.2317bn from $6.3669bn, while goods surplus

increased to $6.9957bn from $6.4196bn. Elsewhere, news wires carried some

comments from FinMin Hong. Per BBG, he asked companies to maintain employment

and increase investment, noting that May is the "golden time" for recovery.

Yonhap cited him as saying that South Korea will provide KRW1.5tn in subsidies

to temporary workers affected by the coronavirus outbreak.

- Bulls target Apr 21/2 highs of KRW1,240.90/1,242.55 and a break here would

open up Mar 24 low of KRW1,249.65. Losses past the 50-DMA at KRW1,221.97 would

expose Apr 29 low of KRW1,216.95. A further dip would prompt bears to take aim

at Apr 10/Mar 27 lows of KRW1,206.90/1,205.20.

- The local docket is virtually empty towards the end of the week, any

cross-currents will draw attention.