USDKRW has failed to show much of a......>

KOREAN WON: USDKRW has failed to show much of a reaction to the surge in the

unemployment rate for January as the pair trades 1.6 points lower on the day at

1122.35. The rate jumped to 4.4% from 3.8% in Dec, taking it to its highest

level since 2009. Broad based risk on appetite is likely providing support as

KRWJPY clings to yesterday's breakout highs. 

- Rate markets have also been fairly unresponsive to the unemployment miss, with

the 10 year future and swap rates largely flat on the day. 

- The finance minister warned last week that the Jan figures would be poor but

the release puts the balance of risk even further to the downside with regards

to the BOK's next move.