Free Trial

Won Retreats Upon Return From Holiday

KRW

Spot USD/KRW trades on a firmer footing as onshore markets re-open after a public holiday. The rate last sits at KRW1,273.85, that is 7.90 figs higher on the day, after printing a new cycle high at KRW1,276.05. Bulls look for a push through Mar 23, 2020 high of KRW1,282.60, while bears would be pleased by losses past Apr 29 low of KRW1,255.25.

  • USD/KRW 1-month NDF last seen +4.29 figs at KRW1,274.05. Topside focus falls on Apr 28 high of KRW1,277.09, while bears keep an eye on May 4 low of KRW1,250.96.
  • Vice FinMin Lee flagged concerns about sensitive reactions of local financial and FX markets, adding that the authorities will closely monitor market situation and take active stabilisation measures if needed.
  • Next week's data calendar includes BoP current account balance (Tuesday), unemployment (Wednesday) and terms of trade (Friday).
  • Reminder that President-elect Yoon Suk-yeol will formally take office on Monday.

To read the full story

Close

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.