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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
The won is marginally stronger, USD/KRW gapped lower at the open but the pair has trended higher in early trade and is just short of closing the gap. The pair last at 1139.50, after touching highs of 1144.50 yesterday. The next significant resistance level is 1152.50, the 200-day moving average. The pair is entering overbought territory, RSI last just below 71.
- Fig. 1 USD/KRW
Source MNI/Bloomberg
- South Korea's daily new coronavirus cases rose by 470, above 400 for a second consecutive day Wednesday, the highest in 19 days, as cluster infections continued to pile up across the country ahead of adjustments of social distancing rules. After briefly falling below 400 on Monday due to fewer tests carried out over the weekend, the daily caseload rebounded to 446 on Tuesday.
- Markets will look ahead to comments from Vice Finance Minister Kim who will attend meeting on export strategy, while the Bank of Korea releases monthly financial market trend report today.
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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