Free Trial

USDKRW has risen another 0.25 today to...>

KOREAN WON
KOREAN WON: USDKRW has risen another 0.25 today to trade at 1129.5 last as the
slight recovery in global risk appetite is outweighed by the impact of a
stronger dollar broadly.
- Despite the ongoing drop in Korean interest rate swaps, the spread versus the
US continues to edge lower, last at 103bps versus 127bps at the peak last month.
The drop in oil prices is also a positive for the won given Korea's much higher
energy import dependence compared with the US.
- However, the historical correlation between USDKRW and risk-adjusted real
yield spreads continues to suggest the pair should be trading higher over the
medium term.
- There are no major economic releases scheduled for today, while employment
data is due out tomorrow. 

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.