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USDKRW is 0.5% higher on the day.........>

KOREAN WON
KOREAN WON: USDKRW is 0.5% higher on the day trading at 1123.7 as broad dollar
strength supports the pair. Yesterday's break below 1120 looks to have been a
false break and bulls now need to overcome the 55-dma at 1124.7 to reignite
upside momentum.
- With the US Fed signaling that it intends to continue raising rates, the rate
differential between the two countries continues to rise. The 2-year interest
rate swap spread sits at a new cycle high of 126.7bps.
- KRWJPY has also come off its highs having failed to break above its Oct 1 high
at 10.276. This keeps the trend of lower highs intact for now. 

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