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USDKRW is testing yesterday's lows.......>

KOREAN WON
KOREAN WON: USDKRW is testing yesterday's lows despite discount and dept store
sales coming in inline with recent trends and the dollar remaining on the front
foot globally. 
- KRWJPY is trading near its daily highs at 10.225 as the break above down
trendline resistance earlier this week has ignited momentum. The May 22 at
10.348 lies ahead, and a break above there would target the January and
multi-year high at 10.681.
- Real bond yield spreads between the two countries continue to trend in favour
of the yen thanks largely to the rise in Korean inflation expectations, but the
spread is not at levels that would preclude further won outperformance in the
short term.
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