USD/KRW reversed all of its early........>

KOREAN WON: USD/KRW reversed all of its early decline to close virtually

unchanged at KRW1,119 on Wednesday, in spite of the relatively warm undertones

evident at the Trump-Kim summit in Vietnam.

- The latest round of business surveys showed a recovery across both of the

manufacturing and non-manufacturing metrics. While South Korean total external

debt levels held relatively steady in Q4.

- The recent developments in U.S.-China trade relations have applied some

pressure to the cross this week, with bears looking for a break and

consolidation below the 200-DMA to allow them to focus on the Jan 31 low, while

bulls look for a move through the 50-, 55- & 200-DMAs before focusing on a

string of recent intraday highs.

- The BoK decision headlines the local docket tomorrow. All of those surveyed by

BBG look for the BoK to stand pat. Particular focus will fall on the Bank's

rhetoric surrounding the labour market and the health of the economy/exports.

South Korean industrial production and leading index data will also hit on

Thursday.