Won Rebounds On Better Equity Tone, But Remains Within Weekly Range

The Korean won is the pick of the Asian currencies in Friday trade to date. Spot USD/KRW is 0.80% lower, last just under 1350. The 1 month NDF is also 0.3% higher in won terms versus Thursday NY closing levels. This puts us back to a 1347 handle. The leaves us more than 10 won sub Thursday highs in USD/KRW, but still above earlier lows in the week near 1338.40.

• The won is benefiting from a broadly positive equity market backdrop. US equity futures are holding close to session highs (Nasdaq futures up 0.80%), with moves aided by some positive earnings results late in US Thursday trade. The Kospi is +0.80% higher at this stage.
• There hasn't been any fallout from headlines that the US military has attacked targets in Syria linked to Iran.