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USDKRW managed to hold above its Jan 2...>

KOREAN WON
KOREAN WON: USDKRW managed to hold above its Jan 2 low yesterday and has opened
on the strong side today, trading just shy of the 1120 level. The technical
picture remains neutral as the pair sits well within its long term trading
range, but the fundamental outlook for the won continues to deteriorate as
recent gains have come in spite of still-wide US-Korea real yield differentials.
- KRWJPY has recovered early losses to keep its near term uptrend intact, with
bulls looking for a close above 9.80 to cement the recovery. 
- It is a quiet day on the data front today with focus likely to remain on
global risk sentiment.

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