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USDKRW moved lower at the open despite...>

KOREAN WON
KOREAN WON: USDKRW moved lower at the open despite some dollar strength in the
NY session. The pair sits at 1127.10, with support coming in at 1125 marking
yesterday's low. Won crosses are outperforming as EURKRW trades back down at 3
week lows while CNHKRW edged back below the 166.00 level. KRWJPY has found some
support at the 9.70 level as bulls look to test range highs. 
- Rate markets have edged back down with the 2-year failing to recover the 1.8%
level, keeping US-Korea spreads elevated. 
- Korean consumer confidence edged up to 97.5 in Jan from cycle lows of 97.2 in
Dec.

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