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Won Pressured On Thursday, Balance of Payment On Tap

KRW

USD/KRW rose ~0.4% on Thursday as broader USD flows dominated, finishing dealing at 1335.35.

  • The pair sits a touch below its August highs, and has risen ~6% since mid-July.
  • Technically USD/KRW is in a strong uptrend, bulls target the high from 17 Aug (1343.10). Bears first look to break the 20-Day EMA (1323.46) to turn the tide.
  • In the equity space yesterday KOSPI fell ~0.6% and the KOSDAQ fell ~1.6%.
  • On tap at the top of the hour we have July Balance of Payments, there is no estimate for the print.

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