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

KOREAN WON
KOREAN WON: USD/KRW reopened on the front foot, after yesterday's broad-based
appreciation in USD. The spot last deals at KRW1,207.40, 7.90 fig. above
Wednesday's close.
- South Korean FinMin Hong said today that the gov't is planning to implement a
new tax on gains from all financial investment in 2022 and levy a new tax on
stock investment gains above KRW20mn in 2023.
- A break above the 100-DMA at KRW1,215.90 would bring Jun 3 high/50-DMA at
KRW1,220.05/1,220.89 into view. Bears look for a fall through the 200-DMA at
KRW1,196.70, towards Jun 11 cycle trough at KRW1,188.60.
- South Korea's consumer confidence comes out tomorrow.

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