Free Trial

USDKRW held neckline..........................>

KOREA
KOREA: USDKRW held neckline support-turned-resistance in style today with early
gains giving way to steep losses for the pair, which is down 0.65% from its
daily highs at 1110.2. A close around here would re-establish the bearish trend
and put the focus on 1100.0. 
- The won's recovery comes in spite of the widening nominal and real interest
rate differential with the US, which suggests that the pair should be trading
closer to 1200 than 1100. 
- Much of the won's strength can be put down to the secular improvement in its
external balance sheet, with the release of reserves data tomorrow likely to
show another new high.

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.