Free Trial

USDKRW has found support ahead of.......>

SOUTH KOREA
SOUTH KOREA: USDKRW has found support ahead of Monday's lows, with a potential
triangle pattern forming from the Oct 12 highs. A break above yesterday's high
at 1137.50 would suggest further gains back above 1140.
- Rate spreads continue to support further gains in USDKRW despite a slight drop
in 2-year interest rate swap spreads between the two countries, which now sits
at 112bps. 
- Widening US credit spreads represent an increasingly salient risk to the won
given the upside pressure that this tends to place on Korean CDS spreads. 
- Korean real GDP figures come out tomorrow and are likely to provide some
insight into the BOK's inclination to hike at its November meeting, which is
becoming increasingly priced in. 

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.