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USD/KRW opened slightly lower and last...>

KOREAN WON
KOREAN WON: USD/KRW opened slightly lower and last sits -3.52 fig. at
KRW1,240.60. Yonhap reported that South Korea will resume trade negotiations
with China this week "to discuss expanding the scope of their bilateral free
trade agreement to better cover the service and investment sectors".
- Per the data released this morning, South Korea's consumer confidence index
jumped to 77.6 from 70.8 this month.
- Amid the escalating U.S.-China spat, Korea Daily reported yesterday that
Huawei has asked Samsung & Hynix to confirm that they will continue to supply
components to the Chinese tech giant.
- Bears look for a dip below the 50-DMA at KRW1,229.28, which would open up May
11 low of KRW1,214.35. On the topside, yesterday's high of KRW1,244.25 remains
in focus, a break here would bring Mar 24 low of KRW1,249.65 into view.
- South Korea's Business Survey will be published tomorrow, while industrial
output hits the wires on Friday. The BoK's MPC will announce its monetary policy
decision on Thursday.

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