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USDKRW has seen a big move lower today,.......>

KOREA
KOREA: USDKRW has seen a big move lower today, dropping 0.7% to break back below
triangle resistance turned support. Uptrend support from the Dec 4 lows comes
into play at 1120, and below here would strengthen the case for a large topping
formation. 
- The won has benefitted from the recovery in risk appetite which has seen
KRWJPY break out of its recent range to test the 9.80 level. A close to the week
around here would suggest a resumption of the recovery rally. 
- The Kospi added another 1.5% today to take its weekly gains to 2.5% as the
index trigger a double bottom formation. 
- Rate markets have been the odd one out, with the swap curve edging lower. The
rolling correlation between Korean bond yields and Korean stocks has collapsed
over recent weeks as the rate market shrugs off broader risk on flows. 

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