Free Trial

USD/KRW opened lower and printed its.....>

KOREAN WON
KOREAN WON: USD/KRW opened lower and printed its worst level since mid-March,
while challenging the 200-DMA (KRW1,196.97), playing catch-up to yesterday's USD
weakness. A convincing break below the 200-DMA would please bears, exposing Mar
11 low of KRW1,186.40. Conversely, bulls look for a rebound above the 100-DMA,
which kicks in at KRW1,211.35. The rate last sits -5.80 fig. at KRW1,199.10.
- The rate has shown a muted reaction to the news surrounding inter-Korean
tensions. As flagged earlier, North Korean state media informed that Pyongyang
will cut all of its communication lines with South Korea at noon today. The news
came out after anti-DPRK leaflets circulated by South Korean activists drew the
ire of authorities in Pyongyang.
- South Korea reports unemployment data for the month of May tomorrow.

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.