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USDKRW is trading back down at 1140 as...>

KOREAN WON
KOREAN WON: USDKRW is trading back down at 1140 as an improvement in global risk
appetite weighs on the pair, even as USDCNH has risen back above 6.97. 
- The recovery in risk appetite has seen Korean interest rate swaps recover some
of yesterday's losses, with the 2-year rising 4.3bps, trading at 1.8430%. This
has helped US-Korea swaps spreads ease back from yesterday's high. 
- KRWJPY has extended gains after holding above the 9.80 level yesterday, which
continues to hold on a closing basis. With Japanese real yields trending higher
though, thanks to falling inflation expectations, Korea-Japan real yield spreads
continue to head in the yen's favour.  

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