USD/KRW has traded within a familiar.....>

KOREAN WON: USD/KRW has traded within a familiar range, either side of

KRW1,160.00. It opened higher in a delayed reaction to strong U.S. housing

starts data released on Friday, but has eased off since, drawing some support

from a stronger yuan. The rate last operates -1.70 fig. at KRW1,157.80.

- The last few days saw USD/KRW trade sideways, with the rate hovering above its

multi-month lows. Bears look for a fall through the Jan 14 low of KRW1,150.65.

Such a move would encourage them to focus on KRW1,148.90, the low of Jul 1.

Conversely, bulls look to recoup the 50-DMA at KRW1,170.44. 

- North Korea reportedly replaced Ri Yong Ho with a former military officer Ri

Son Gwon as its Foreign Minister, possibly amid a broader political reshuffle.

The move has not been confirmed by North Korean state media yet.

- On Tuesday, South Korea reports its PPI and trade data for the first 20 days

of January. Preliminary GDP data for Q4 will be published on Wednesday.