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USDKRW fell sharply at the open,.........>

KOREAN WON
KOREAN WON: USDKRW fell sharply at the open, dropping to as low as 1125.0, but
has since recovered roughly one third of its losses to trade at 1129.50. Bulls
would need a move above 1137 to extend the broad rally, while bears would a move
below 1122.50 to suggest a reversal. 
- While interest rate spreads between the US and Korea remain near multi-year
highs, the rise in US inflation expectations has seen Korea's real rates head in
Korea's favour in recent trading, providing some support for a relief rally in
the won.
- Tomorrow will see the BOK release its preliminary Q2 GDP figures. 

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