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USD/KRW trades at KRW1,231.25,...........>

KOREAN WON
KOREAN WON: USD/KRW trades at KRW1,231.25, virtually unchanged at typing, as it
has given up opening gains. The initial bullish target is provided by Apr 21
high of KRW1,240.90. A break above there would expose Apr 2 high of KRW1,242.55.
Bears look for a drop below May 11 trough at KRW1,214.35, which would shift
focus to Apr 10/Mar 27 lows of KRW1,206.90/1,205.20.
- Domestically, the new coronavirus cluster linked to Seoul's Itaewon district
continues to draw attention. South Korea's health authorities said that the rise
in new cases has slowed down, with 13 new patients confirmed on Sunday.
President Moon attributed the apparent re-flattening of the coronavirus curve to
effective testing and contact-tracing.
- Looking ahead, South Korea's PPI & trade data for the first 20 days of the
month hit the wires on Thursday.
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