USD/KRW reopened higher, but has.........>

KOREAN WON: USD/KRW reopened higher, but has trimmed gains since and last sits

+3.25 fig. at KRW1,203.95. A break above 100-DMA at KRW1,216.10 would open Jun 3

high/50-DMA at KRW1,220.05/25. Meanwhile, bears look for a fall through Jun 26

low/200-DMA at KRW1,197.60/1,196.59, towards Jun 11 low of KRW1,188.60.

- BBG ran headlines from its Friday's interview with FinMin Hong, who said that

a fourth extra budget this year won't be necessary. Instead, the gov't will

focus on "ensuring that the third extra budget and the series of measures taken

in the first half feed through" as the impact of the coronavirus outbreak

appears to be bottoming. Hong added that the gov't will propose supply chain

reshaping measures in Jul & debt accumulation rules in Aug.

- Separately, a BoK report said that the economic shock from Covid-19 will

exacerbate worrying growth trends seen ahead of the pandemic.

- Kyodo reported that Japan opposed U.S. proposal to admit South Korea to G7,

citing policy differences on China & DPRK dividing Seoul and the group.

- South Korea's Business Survey & industrial output come out on Tuesday, trade

balance and Markit M'fing PMI hit the wires on Wednesday, CPI is due Thursday.