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USD/KRW Sub 1300, BoK Governor Rhee on Bloomberg TV Later Today

KRW

1 month USD/KRW was range bound post the Asia close. Dips sub 1295 were supported but the pair didn't get back above 1300, finishing the NY session around 1296.60/65. Note onshore spot ended yesterday at 1297. Higher USD/CNH levels is likely to have offset the better tone in equities. USD/JPY may also influence the won today given Ueda's confirmation hearing.

  • The equity tone was better in the tech space, with the SOX rebounding 3.33%, while the MSCI IT rose +1.36%, although this largely reflected positive news post Wednesday's close in terms of Nvidia's result.
  • To recap, the Kospi rose 0.89% yesterday, while offshore investor flows were flat. Early doors US futures are slightly weaker for today.
  • The local data calendar is quiet today, but note that BoK Governor Rhee will appear on Bloomberg TV at 3:40pm Seoul time (06:40 BST). This will be watched for follow up on yesterday's BoK meeting, which left the door ajar for another rate hike.
  • Also note the FSS Vice Chair Kim So-young will hold a briefing for the foreign press on capital market reforms at 2:30pm local time.

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