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Won Creeps Higher

KRW

Spot USD/KRW dipped at the re-open and last trades -4.10 figs at KRW1,214.50. Bears look for a sell-off past Mar 18 low/50-DMA at KRW1,207.00/1,204.55 before targeting the 100-DMA at KRW1,193.96. Bull need a clearance of yesterday's high of KRW1,223.55 before taking aim at Mar 15 high of KRW1,244.00.

  • USD/KRW 1-month NDF last seen at KRW1,214.92, marginally below neutral levels. Downside focus falls on Mar 18 low of KRW1,207.60, while bulls keep an eye on Mar 15 high of KRW1,247.94.
  • DongA Ilbo reported that South Korea and the U.S. are seeing signs that North Korea is preparing for missile launches from two locations, with a potential for an ICBM test around April 15, when Pyongyang commemorates the birthday of its founder Kim Il Sung.
  • South Korean factory-gate inflation slowed to +8.4% Y/Y in February from the revised +8.9% prior.
  • Outgoing BoK Gov Lee will hold his final press conference this afternoon before stepping down at the end of the month.
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