USD/KRW opened higher and last trades....>

KOREAN WON: USD/KRW opened higher and last trades +5.05 fig. at KRW1,213.25,

following yesterday's risk-off flows. Familiar worries about the resurfacing

coronavirus & regional geopolitics may have helped the pair inch higher.

- As inter-Korean tensions remain in focus, Yomiuri cited sources saying that

South Korea's nuclear envoy will ask the U.S. gov't to relax sanctions on North

Korea in a bid to ease heightened tensions on the Korean peninsula. An unnamed

South Korean off'l told Yomiuri that Seoul is prepared to unilaterally offer

support to the DPRK, should the talks with the U.S. fail to bring about a

desired result.

- Meanwhile, new cluster infections continue to spread in the greater Seoul area

and beyond. A top health official said that South Korea may impose stricter

measures across the whole country, if attempts at containing new outbreaks fail.

- Bulls need a break above Jun 3 high/50-DMA at KRW1,220.05/1,221.76 before

taking aim at KRW1,229.91, the 38.2% retracement of the Mar 19 - Jun 11 slide.

Bears look for a retreat under Jun 12 low of KRW1,203.35, towards Jun 11 low of

KRW1,188.60.