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USDKRW is off to a strong start today....>

KOREAN WON
KOREAN WON: USDKRW is off to a strong start today as Friday's dollar strength
spills over into Monday, with the pair trading at 1130.1, just off its opening
highs. The won's real effective exchange rate dipped back from cycle high on
Friday but remains elevated even as Korean stocks trade near multi-year low
valuations. 
- Markets continue to focus on any indication that the BOK will hike at its
month-end meeting, with import and export price data due tomorrow and money
supply and unemployment data due Wednesday potentially giving an indication of
the impact of the recent equity declines on the real economy. 
- Rate markets continue to point to a materially weaker won as US-Korea real
yield spreads continue their relentless push higher.  

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