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KOREAN WON: USDKRW opened higher but was unable to break back above the 1115
level causing gains to be given back leaving the pair unchanged at 1113. The won
has shrugged off the dollar's surge, with EURKRW seeing a sharp drop over recent
days, breaking below the 1300 level to continue the longer term bearish trend.
- Department store sales and discount store sales are due out at the top of the
hour, with Korea bulls looking for a recovery following yesterday's uptick in
- However, global factors are likely to dominate movements in the pair, and with
the dollar on the front foot globally and real yield spreads still trending in
the USD's favour, won weakness seems increasingly likely.