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Won Falters, Bok Gov-Nominee Flags Inflation Worry

KRW

Spot USD/KRW trades +5.70 figs at KRW1,219.60 amid firmer U.S. Tsy yields. Should the rate manage to push through Mar 22 high of KRW1,223.55, bulls could take aim at Mar 15 high of KRW1,244.00. Bears look for a pullback below Mar 18 low/50-DMA at KRW1,207.00/1,204.91.

  • USD/KRW 1-month NDF last seen at KRW1,220.25, a touch higher on the day. Bulls look to a move through Mar 15 high of KRW1,247.94, while downside focus falls on Mar 18 low of KRW1,207.60.
  • BoK Governor-nominee Rhee flagged "growing concerns" over "inflation at home and other economic risks" in his first public remarks after nomination.
  • President-elect Yoon will speak by phone with Chinese President Xi this week amid rising tensions with North Korea as the transition of power after South Korean presidential election continues.
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