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USDKRW is trading just off its daily.....>

KOREAN WON
KOREAN WON: USDKRW is trading just off its daily lows at 1126.15, erasing all of
yesterday's gains. Bears look for a break back below the 21 and 55-dmas at
1120.07/1121.61 to generate an outright bearish signal. 
- The strength has come amid slight weakness in the Chinese yuan and Korean
stocks, suggesting that we are not seeing a broad-based return to risk appetite.
- Korean 2-year interest rate swaps also show no sign of bouncing and are flat
on the day at 1.8275.
- The 21-day rolling correlation between the KRW and the CNH remains elevated at
0.84 despite the recent slight decoupling. 

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