USDKRW continues to trade near its.......>

KOREAN WON: USDKRW continues to trade near its daily highs, up ~0.5% on the day

last at 1133.9 as the 1140 resistance area comes into focus. 

- Won crosses are also under pressure, with KRWJPY edging lower at 2-week lows

after the pair failed to sustain gains above 10.20 last week which established a

lower high. Despite the drop in Japanese 10-year real yields over the past week,

Korea-Japan real yield spreads continue to suggest the cross should be

significantly lower. 

- CNHKRW is also showing some bullish reversal potential after Friday's break

back above 162. The pair held its Sep 29 all-time lows and a break above 164

would add weight to the idea of a bullish reversal.