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USDKRW trades at daily highs at 1134.6...>

KOREAN WON
KOREAN WON: USDKRW trades at daily highs at 1134.6 as the pair trades back above
its 21-dma and heads towards its range highs above 1140. The won has been the
worst performing Asian currency over the past week as the pair moves closer
towards where US-Korea real yield spreads suggest it should be trading. 
- The won faces asymmetric downside risks as US-Korea real yield spreads
continue to trade higher while CDS spreads face upside pressure from the threat
of rising global credit spreads. 

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