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USDKRW opened slightly higher today......>

KOREAN WON: USDKRW opened slightly higher today after failing to break below
range lows yesterday, with the pair last at 1117.7. KRWJPY is trading just shy
of the 9.8 level with bulls looking for a close above here to suggest further
- 1 month implied vol is looking to stage a recovery off of range lows at 7.0,
providing a potential warning sign to won bulls.  
- The BOK's Business Conditions Surveys for both the manufacturing and non
manufacturing sector both saw heavy declines to fresh multi year lows, which is
slightly weighing on the won. 
- The rest of the week will be heavy on the data side, with department sales and
IP out tomorrow ahead of Friday's CPI release. US-China trade talk developments
are likely to dominate price action however. 

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