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USD/KRW has stabilised & sticks to a.....>

KOREAN WON
KOREAN WON: USD/KRW has stabilised & sticks to a relatively tight range,
hovering just above its 200-DMA. South Korea reported this morning that its BoP
current account balance shrank to +$1.0065bn from $4.3309bn in January.
- South Korea unveiled its extra budget yesterday. Moody's commented today that
the proposal is unlikely to undermine the country's fiscal position.
- The rate sits -2.00 fig. at KRW1,185.85. Bears need the 200-DMA at KRW1,183.56
to give way before targeting the 61.8% retracement of the YtD range/100-DMA at
KRW1,177.33/01. On the flip side, bulls look for a breach of the Mar 3 high,
located at KRW1,195.45.

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