Won Stronger In Early Trade

A weaker greenback saw USD/KRW open lower, the pair last at 1116.15, down 1.15 on the session , but off lowest levels at 1114.65, intraday support is seen at 1110.98 the 100-day moving average. While resistance is seen at 1122.68, the 50-day moving average.

• Something that should encourage won bulls is a decline in coronavirus cases. South Korea reported 549 daily new coronavirus cases in the past 24 hours, remaining in the 500s for the second day as health authorities vow to accelerate the country's nationwide vaccination campaign amid concerns of a potential spike. The comparable figures were 671 on Sunday and 658 on Saturday.
• South Korea's Vice Finance Minister Lee spoke earlier, he said government will keep closely monitoring risks of increasing volatility in financial markets although bond yields gain in global and local bond markets has eased recently. Will also pay attention to possibility of capital outflows in emerging markets as divergent recovery between developed and emerging countries is seen
• A thin week for data, PPI figures are due on Wednesday, while export data for the first 20 days of April will be published on Thursday. Markets await GDP figures for Q1 next week.