Free Trial

USDKRW remains below 1140 but is still up.....>

KOREA
KOREA: USDKRW remains below 1140 but is still up 0.5% on the day. The Kospi has
bounced off its lows but is still down 1.5%, with a close above 2100 needed to
improve the outlook.
- A sizeable bounce in Korean stocks would be needed to help support Korean
rates, which are facing downside pressure. The 2-year remains down 3.2bps at
1.92% and based on historical correlations with Korean stocks, rates face
further downside pressure. 
- In the absence of an equity rally, USDKRW is likely to continue trending
higher as the pair catches up to the high US-Korea real yield differential. 

To read the full story

Close

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.