USD/KRW reopened on the back foot,.......>

KOREAN WON: USD/KRW reopened on the back foot, following risk-on flows seen

across the broader FX space yesterday. Elsewhere, South Korea released its May

PPI, which declined 1.7% Y/Y, at the same pace as the prior month. The rate last

sits -8.65 fig. at KRW1,207.20.

- Little new out of South Korea thus far, with eyes still on geopolitics and

coronavirus. The DPRK is reinstalling propaganda loudspeakers along the border

with South Korea. Elsewhere, South Korean health authorities said that the Seoul

area is already in the second wave of Covid-19.

- A fall through Jun 12 low of KRW1,203.35 would open up the 200-DMA at

KRW1,196.76. Conversely, bulls look for a rally through the 100-DMA at

KRW1,215.59, towards Jun 3 high of KRW1,220.05.

- South Korea reports consumer confidence data on Thursday.