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Won Weakens For First Session In Four

KRW

After dropping for three consecutive sessions post-BoK USD/KRW is higher on Monday, the pair gapping higher at the open and continuing its move higher. Last up 5.30 at 1145.35. The pair hit the highest since October 2020 last week at 1151.75.

  • On the coronavirus front there were 1,252 new cases in the past 24 hours, meaning cases have been over 1,000 per day for two weeks. The latest figure was down from 1,454 on Sunday due to fewer tests over the weekend, but it marked an all-time high for a Monday amid the fourth wave of the pandemic. In response to a sharp hike in new cases in non-capital areas, health authorities tightened the virus curbs to limit gatherings of more than four people across the nation, which is effective for two weeks starting Monday.
  • There are no domestic releases on the economic docket today, markets look ahead to PPI data tomorrow and export data on Wednesday.
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