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Free AccessUSDKRW hit fresh weekly highs at the.....>
KOREAN WON: USDKRW hit fresh weekly highs at the open and trades just off at
1126.6. Risk aversion following US retail sales weakness has more than offset
the impact of a slightly weaker dollar generally amid lower US yields, with
KRWJPY trading just off uptrend support and its 21dma after seeing a 0.7% drop
yesterday.
- Implied volatility continues to diverge from USDKRW price action with 1 month
implied vol continuing its plunge yesterday to hone in on the 6.0 level.
- Korea's current account surplus widened on a y/y basis to $4.8bn from $4.5bn
despite further weakness from its Sep highs. In other news U.S. Secretary of
State Mike Pompeo says he and South Korean Foreign Minister Kang Kyung-wha had a
"good meeting" in Warsaw, where they discussed the denuclearization of North
Korea.
- All eyes today will be on trade talk headlines.
To read the full story
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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.