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USD/KRW Inches Higher, Quiet Morning In South Korea

KOREAN WON

Spot USD/KRW has added 1.70 fig. and last sits at KRW1,180.65, with broader-picture dynamics driving price action this morning. Bulls would be pleased by a move through the 50-DMA at KRW1,190.61, which would open up Aug 3 high of KRW1,196.05. On the downside, a fall through yesterday's multi-month low of KRW1,178.35 would allow bears to take aim at Feb 12 low of KRW1,176.40.

  • On the coronavirus front, South Korean Education Ministry said that schools in Seoul will re-open next week.
  • South Korean parliament holds an interpellation session on economic matters with PM Chung and FinMin Hong at 14:00 local time.
  • Nothing much in terms of data releases left on South Korea's economic calendar this week.
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