USDKRW trades back near daily lows as the.....>

KOREA: USDKRW trades back near daily lows as the won benefits from a stronger

Chinese yuan. Stocks have also largely shrugged off the weakness in global

equities as the region outperform US benchmarks. 

- USDKRW sits at 1118.35, just ahead of its range lows. The series of lower

highs seen over recent months suggests a potential topping pattern which gives

bears the edge for now, even as won strength is not backed up by US-Korea yield

spreads, which remain near three week highs despite today's narrowing. 

- KRWJPY has recovered early losses but but bulls still need to break above

yesterday's highs of 9.7420 to suggest the recovery is extending.