USDKRW has edged back to the top of......>

KOREAN WON: USDKRW has edged back to the top of its short term range on the back

of a resumption in broad based dollar strength with the pair last at 1125.6. The

pair has been supported by the jump in yen crosses in recent days which has

allowed KRWJPY to approach ytd highs, but the pair has edged lower today on some

slight risk off flows. 

- Swaps rates saw some slight upside yesterday following Tuesday's gains but

this has done little to narrow the still-wide yield differential that the US has

over Korea. The continued drop in implied volatility and CDS spreads continue to

provide the won support though.

- South Korea's presidential office has begun preparing plans for a possible

visit by North Korean leader Kim Jong Un to the South around end-March or early

April, DongA Ilbo newspaper reports, citing unidentified government sources.

- Money supply data will be released at 3:00GMT while Chinese trade data will

likely have a bigger impact on the won.