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Free AccessUSDKRW opened higher but was unable to...>
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
consumer confidence.
- 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.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.