USDKRW broadly flat around the 1120......>

KOREAN WON: USDKRW broadly flat around the 1120 level as it continues to move in

a tight contracting range capped by 1130 on the upside and 1115 on the downside.

3-month risk reversals remain at their lowest level since 2014 as option markets

see a diminishing threat of a spike higher in the pair. 

- KRWJPY broke above short term range highs in NY trading but have edged back

slightly. Bulls need a break above 9.75 to shift the recovery rally into a

higher gear. Real yield spreads have moved in the yen's favour in recent weeks

but this is being offset by the return of a risk on tone in global equity

market. 

- Bloomberg noted that a top North Korean official is set to meet President

Trump and Secretary of State Michael Pompeo in Washington later this week,

according to four people familiar with the matter.

- The data docket is empty for the remainder of the week with GDP due out early

next week.