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USD/KRW Prints Fresh Multi-Month Lows, Trims Losses

KOREAN WON

Spot USD/KRW changes hands at KRW1,175.45, a touch below opening levels but off earlier lows. The lower open allowed the rate to print a fresh multi-month low. Further losses past Jan 29 low of KRW1,173.95 would bring Jan 14 YtD low of KRW1,150.65 into view. Bulls watch the 50-DMA, intercepting at KRW1,190.13, and a break above there would expose Sep 4 high of KRW1,192.75.

  • A weekly emergency economic meeting chaired by FinMin Hong commenced at 08:00 local time. At 10:30 Vice FinMin Kim will brief the reporters on the meeting.
  • JoongAng Ilbo reported that the U.S. offered to discuss humanitarian aid with North Korea amid speculation of a potential meeting between U.S. Sec of State Pompeo and North Korean Supreme Leader's sister Kim Yo Jong.
  • South Korean data docket is empty during the remainder of this week. Looking further afield, imports/exports for the first 20 days of the months are due Monday.
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