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USD/KRW Operates Just Above 18-Month Low

KOREAN WON

Spot USD/KRW has ebbed lower after the re-open, catching up with yesterday's slip in the DXY. The pair hovers above its 18-month low printed yesterday, last -1.25 fig. at KRW1,145.65. A fall through yesterday's low of KRW1,142.70 would open up Apr 18/15 lows of KRW1,133.00/1,132.10, followed by the lower 3.0% Bollinger band at KRW1,129.78. Conversely, a rebound above Oct 7 high of KRW1,165.95 would clear the way to Sep 28 high/50-DMA at KRW1,174.80/1,177.42.

  • South Korea's daily coronavirus case count remained above 100 after the detection of a cluster in the city of Busan, keeping officials on alert.
  • South Korea's terms of trade and unemployment data hit the wires tomorrow.
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