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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.
KRW
1 month USD/KRW is around 0.2% sub NY closing levels. Dips below 1420 have been supported though, with the pair last close to 1421. Earlier moves towards 1430 were faded by the market. The won has lagged the improving equity market backdrop in recent weeks, see the chart below. Equities are weaker today though, albeit well away from worst levels at the start of the session. The Kospi is at 2322, -0.65% at this stage (early session lows were sub 2300). Offshore investors have net sold -$20.5mn of local equities so far today, but week to date inflows remain positive at $877mn.
- Tensions with North Korea aren't impacting sentiment, despite a possible test launch of an ICBM by North Korea (although the South Korean military stated it was a likely failure).
- The authorities have also stated they stand ready to stabilize markets if volatility surges (either from the North Korean situation or in the aftermath of the Fed outcome overnight).
Fig 1: USD/KRW & Kospi (inverted) Trends
Source: MNI - Market News/Bloomberg
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.
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