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USDKRW has extended its daily gain to....>

KOREAN WON
KOREAN WON: USDKRW has extended its daily gain to ~0.9% as won has fallen out of
favour due in large part to the crash in yen crosses. KRWJPY hit as low as 6.366
earlier today and remains below support turned resistance at 9.500. 
- We have long argued that real interest rate spreads between Korea and Japan
suggested that pair should be trading closer to the 9.0 level and today's crash
has only partially resolved the divergence. Bulls would need to recover the 9.70
level to suggest a bullish reversal, but the broader bearish trend is firmly
intact. 

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