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USDKRW is trading at its daily highs.....>

KOREAN WON
KOREAN WON: USDKRW is trading at its daily highs at 1122.35 after reversing
earlier losses which saw the pair touch 1118.05. Comments earlier today by PM
Lee that it is time to consider an interest rate were tracked back by officials
who assured that the comments did not suggest any policy direction. 
- The pair is trading right on its 55-dma and today's close is likely to be key
for the short-term outlook.
- Rate markets have seen some activity today with the 2-year interest rate swap
rising 3.2bps to 1.85%. The positive headlines on US-China trade talks and PM
Lee's rate hike comments have stabilised the near-term outlook. 
- The US-Korea 2-year swap spread has edged in by 0.5bps today to 108.6bps but
continues to suggest the won should be weaker than current levels. 

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