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Why MNI
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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessWon Firms Ahead Of Local Holiday, FOMC Rate Decision
Spot USD/KRW dropped at the re-open and last trades -7.60 figs at KRW1,260.30. Should the rate descend past Apr 29 low of KRW1,255.25, bears could take aim at Mar 15 high of KRW1,244.00, a previous breakout point. Bulls look for a jump above Apr 28 high of KRW1,273.95 before targeting Mar 23, 2020 high of KRW1,282.60.
- USD/KRW 1-month NDF last seen at KRW1,260.50, a touch lower on the day. Bears keep an eye on Apr 29 low of KRW1,254.92, while bulls look to a move through Apr 28 high of KRW1,277.09.
- BoK Apr MonPol meeting minutes released Tuesday showed that board members saw the need for further rate hikes as the current policy settings are still "accommodative".
- With the local data docket virtually empty today, focus moves to a confirmation hearing from Defence Min nominee Lee and an economic meeting with FinMin Hong.
- Reminder that South Korean markets will be closed in observance of a public holiday on Thursday.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.