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USDKRW continues to look toppy as the....>

KOREAN WON
KOREAN WON: USDKRW continues to look toppy as the EM FX bounce continues, with
the pair currently at 1,111.40, still below support-turned-resistance following
the neckline of the ST triple top formation. 
- It is a heavy data week for Korea, with unemployment and money supply data out
tomorrow and import and export prices out on Thursday before the BOK meets. 
- Positive date over the next few days would boost the case for a BOK hike, but
it is unlikely that this will come this week, with inflation pressures still
muted. The spread between US and Korean rate expectations continues to head in
the US's favour, with the 2-year swap spread now at 89bps, which should prevent
the won from entering a sustained appreciatory trend.  

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