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Virus Cases Rise Again


The won is stronger after a decline in the greenback on Wednesday, USD/KRW last down 2.35 at 116.15, hovering around yesterday's lows and still holding most of the gain made between Tuesday and Wednesday's session. Lows for the week are a 1110.85.

  • South Korea reported 735 new virus cases for the second straight day on Thursday amid lingering woes over another wave of the pandemic as the country's vaccination campaign gathers pace, with vaccinations set to top 2 million. The figure was the highest since Jan. 7 when the country reported 869 cases. It was also the second straight day that the daily caseload hovered above 700 following 731 cases on Wednesday. The daily tally stayed in the 500s on Monday and Tuesday. Despite the steady upticks, South Korea decided to maintain the current level of social distancing rules through May 2 to contain the virus, although it placed more restrictions on entertainment establishments, such as nightclubs and bars.
  • In a sign tensions could flare again, a report from the Congressional Research Service (CRS) noted that North Korea appears to be working to develop capabilities that can oppose US missile defence systems deployed in its region. The report comes after North Korea two ballistic missile tests last month, the first such tests in a year.

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