Free Trial

USD/KRW opened a touch lower this........>

KOREAN WON
KOREAN WON: USD/KRW opened a touch lower this morning but has crept higher since
and last trades -3.05 fig. at KRW1,213.90. Bulls look for a renewed push towards
the three latest intraday highs clustered just above the KRW1,220 mark. A clean
break here would draw attention to the Aug 6 high of 1,223.10, the best level
since Mar 2016. The Covid-19 spread remains under scrutiny as South Korea's case
count currently stands at 1,261.
- Although U.S. Pres Trump hasn't quite soothed the nerves during his special
presser re: coronavirus (still underway at typing), he noted that it's not the
right time to restrict travel from South Korea, but limits might be implemented
"at the right time." On Wednesday, South Korean Foreign Ministry confirmed a
growing number of country who banned inbound travel of people who recently
visited the country's main Covid-19 hotbeds.
- The BoK will deliver its monetary policy decision later today, with members
forced to factor the Covid-19 outbreak into their deliberations. As always,
there is no fixed time for the announcement. Looking ahead, South Korea reports
its industrial output figures on Friday, with trade balance coming up on Sunday.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.