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USDKRW has given back early gains with the....>

KOREA
KOREA: USDKRW has given back early gains with the pair now trading down at
1129.05, just off daily lows, thanks to a recovery in rate markets which has
seen the 2-year interest rate swap rise 1.5bps to take out down trendline
resistance from the Oct highs. 
- The won is also being supported by the recovery in broad risk appetite which
has seen Koreas CDS spreads narrow considerably from last week's highs. 
- Discount sales and industrial production figures are due out tomorrow ahead of
Friday's BOK rate meeting, during which a hold is looking likely but an upside
surprise could sustain the recent won appreciation. 

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