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USDKRW is on the front foot today........>

KOREAN WON
KOREAN WON: USDKRW is on the front foot today after holding its 55-dma
yesterday. Bulls are looking to break back above 1130 to build upside momentum.
Traders await the the upcoming BOK decision with economists slightly favouring a
hold over a hike.
- Korean interest rate swaps are up on the day, with the 2-year up 3.2bps at
1.9788%. The curve continues to flatten though as further rate hikes are
increasingly expected to be front loaded. 
- The widening US-Korea nominal and real yield spread continues to pile pressure
on the won and the BOK to tighten. The spread of 5-year real yields between the
two countries has surged to a record high 12.6bps, up 120bps this year,
suggesting upside pressure on USDKRW.

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