Free Trial

USD/KRW was well bid at the reopen.......>

KOREAN WON: USD/KRW was well bid at the reopen after yesterday's risk-off
session. The rate continues to operate at elevated levels, last sitting +11.50
fig. at KRW1,208.30.
- BoK Gov Lee delivered a speech commemorating the 70th anniversary of the BoK's
foundation. He pointed to a need to prepare for policy normalization after the
coronavirus crisis calms down, adding that monetary policy will remain
accommodative for now.
- Bulls look for a rally above the 100-DMA at KRW1,212.57, towards Jun 3 high of
KRW1,220.05. Bearish focus falls on yesterday's low of KRW1,188.60 and a drop
below there would open up Mar 11 low of KRW1,186.40.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.