USD/KRW has slid from the off amid a.....>

KOREAN WON: USD/KRW has slid from the off amid a broad optimism, stemming from

an earlier report re: experimental drug for Covid-19. South Korea reported

unemployment earlier today, with headline rate rising to 3.8% from 3.3%, in line

with expectations. BBG ran a headline noting that South Korea will unveil a

policy package to support the labour market next week.

- USD/KRW trades -6.20 fig. at KRW1,222.50 at typing and retains a heavy tone.

Bears need a fall below the 50-DMA at KRW1,213.56 & Apr 10/Mar 27 lows of

KRW1,206.90/1,205.20 to assume control. Conversely, a rebound above yesterday's

high of KRW1,229.50 would expose the key near-term resistance at KRW1,242.55,

Apr 2 high.

- The issue of U.S.-South Korea military cost-sharing deal received some renewed

attention as several U.S. lawmakers urged Secs Pompeo & Esper to facilitate

negotiations.

- Preliminary trade data (Tuesday) and flash Q1 GDP (Thursday) headline South

Korean data calendar next week.