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USD/KRW is bid amid talk of investors....>

KOREAN WON
KOREAN WON: USD/KRW is bid amid talk of investors buying the recent dip.
Meanwhile, uncertainty re: timetable of finalising phase one of the U.S.-China
trade pact & the broader cautious mood ahead of today's monetary policy decision
from the FOMC lend further support to the pair.
- This comes after the rate printed a fresh multi-month low and closed under its
200-DMA yesterday, as a broader risk-on feel aided KRW.
- Per Yomiuri Japanese PM Abe will skip the opportunities to meet with S. Korean
PM at the ASEAN and APEC summits in Nov. Elsewhere, N. Korea rejected Seoul's
offer to discuss Pyongyang's decision to halt a joint tourism project.
- Local dept/discout store sales prints released today were rather weak.
- USD/KRW last seen at KRW1,169.10, 6.0 fig. better off. Bulls look to extend
gains above the Jul 11/19 lows of KRW1,170.25/40 before targeting the 23.6%
retracement of the Oct rally, located at KRW1,173.01. Meanwhile, a fall below
the 200-DMA at KRW1,165.78 would expose yesterday's trough at KRW1,162.85.
- Looking ahead, local industrial output data hits on Thursday, while CPI, trade
balance and m'fing PMI will be released on Friday. 

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