USD/KRW probed the water below its.......>

KOREAN WON: USD/KRW probed the water below its 200-DMA, before paring some

losses. The rate last sits at KRW1,197.85, marginally lower. Concerns over Local

Covid-19 situation & resurfacing trade tensions w/Japan continue to linger.

- The BoK's Business Survey came out today. Manufacturers' confidence improved

to 51 from 49, while the gauge of non-manufacturers improved to 59 from 56

(results below 100 indicate that there were more pessimistic than optimistic

responders). South Korea's industrial output shrank more than expected in May.

- JoongAng Ilbo reported that U.S. Dep Sec of State Biegun may visit Seoul for a

couple of days next month. Elsewhere, Biegun said at a virtual forum that any

summit between U.S. Pres Trump & North Korean Leader Kim is unlikely before the

U.S. presidential election.

- A clean break below the 200-DMA at KRW1,196.55 would clear the way to Jun 11

low of KRW1,188.60. On the topside, a break above Jun 25 high of KRW1,209.05

would open up the 100-DMA at KRW1,216.11.

- South Korean trade balance & Markit M'fing PMI are due Wednesday, with CPI

coming up on Thursday.