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USDKRW has dropped 0.6% from its daily high...>

KOREA
KOREA: USDKRW has dropped 0.6% from its daily high to trade at 1132.5 as the
recovery in the yuan and positive headlines on China-US trade relations support
risk assets. The failure to break above 1140 yet again shows this area is
gaining importance as resistance. KRWJPY is up 1% from its daily lows after
failing to consolidate the drop below its 200-dma. 
- Rate markets are also responding positively, with 2-year swaps recovering
losses to trade up 1bps on the day in contrast to China where rates remain down
on the day despite the recovery in risk appetite.
- The won is outperforming relative to the Kospi which marks a shift in recent
price action, with the index still down 1% despite recovering most of its
losses. 

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