USD/KRW opened higher, following.........>

KOREAN WON: USD/KRW opened higher, following yesterday's demand for the

greenback, inspired by comments from Fed Chair Powell. The rate sits +4.40 fig.

at KRW1,228.10.

- South Korean FinMin Hong said this morning that the gov't wants to create

1.56mn jobs in the public sector as off'ls are trying to limit the hit from the

coronavirus outbreak to the local labour market.

- The count of coronavirus cases linked to a new cluster in Seoul's Itaewon

district reached 120, with 43 secondary infections detected. Local authorities

are working to track down and test people who have recently visited the area.

- Elsewhere, Chinese Pres Xi spoke by phone with his South Korean counterpart

Moon, promising that he still plans to visit Seoul this year.

- A break above May 4 high of KRW1,229.95 would shift the focus to Apr 21 high

of KRW1,240.90. A further rally through Apr 2 high of KRW1,242.55 would give

bulls some impetus. Bears look for a drop below May 11 low of KRW1,214.35,

towards Apr 10/Mar 27 lows of KRW1,206.90/1,205.20.

- South Korean terms of trade will be published tomorrow.