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Virus Cases Remain Elevated Even As Lockdown Changes Approach

KRW

The won is weaker in early trade, USD/KRW up 1.65 at 1129.40. South Korea reported 501 daily new virus cases dipping below 600 for the first time in five days on fewer tests over the weekend. Health authorities brace for revamped social distancing rules while pushing to accelerate vaccinations. South Korea will implement a new social distancing scheme Thursday, aimed at allowing businesses to extend operating hours and easing restrictions on social gatherings in accordance with the country's accelerating vaccination drive. There is no economic data on the docket today, markets look ahead to industrial production data and trade balance figures later in the week.

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