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USDKRW is reversing yesterday's losses...>

KOREAN WON
KOREAN WON: USDKRW is reversing yesterday's losses as the pair rises 0.6% on the
day to trade at 1112.15 last. The strong recovery from yesterday's closing low
just above the 200-dma hints at a bullish reversal.
- KRWJPY failed to consolidate gains above the Nov 7 highs yesterday which has
seen the pair fall back below 10.20, last at 10.153, again warning of a
potential reversal. 
- While US-Korea interest rate swap spreads continue to edge lower, reducing the
fundamental drag on the won, they remain elevated historically. 

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