USD/KRW reacted to the deterioration.....>

KOREAN WON: USD/KRW reacted to the deterioration in risk sentiment seen in late

U.S. hours and last sits +4.75 fig. at KRW1,205.40. Nothing in the way of

market-moving local news seen so far.

- South Korea's Minimum Wage Commission set next year's minimum hourly pay at

KRW8,720. The Commission hiked the minimum wage by 1.5% vs. this year, which was

the smallest increase on record. Yonhap reported that the decision was taken by

a 9-7 vote after tough negotiations, as the country is trying to recover from

the coronavirus crisis.

- A rally above Jul 10 high of KRW1,207.15 would encourage bulls to target Jun

25 high of KRW1,209.05. Conversely, a dip through the 200-DMA, intersecting at

KRW1,196.98, would expose Jul 7 low of KRW1,189.80.

- South Korea's terms of trade and unemployment will be published tomorrow. The

BoK will announce its monetary policy decision on Thursday.