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Won Slips On Mounting Pile Of Covid-19 Cases


Spot USD/KRW trades +1.75 fig. at KRW1,198.80, with bulls looking for a break above Jan 28 high of KRW1,207.25, which would open up Jun 17, 2020 high of KRW1,218.60. Bears look for losses past the 50-DMA at KRW1,190.04 towards the 100-DMA at KRW1,184.91.

  • USD/KRW 1-month NDF last seen at KRW1,199.86, a touch higher on the day. Bulls keep an eye on Jan 28 high of KRW1,214.39, while bears look for a dip through the 50-DMA at KRW1,191.39.
  • Pres Moon chairs an inter-agency meeting for Covid-19 response today, after South Korea's total caseload topped 1mn over the weekend.
  • North Korean media outlets have stayed silent on a meeting of the country's rubber-stamp legislature scheduled for last weekend, inspiring speculation that it may have been postponed. It had been expected that official coverage of the meeting could shed some light on North Korea's defence policy plans.
  • Focus turns to South Korea's monthly BoP current account balance, due Thursday.

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