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Won Weaker On Thursday, Industrial Production On Tap

KRW

The Won weakened on Thursday, USD/KRW rose ~0.3% and closed dealing at 1277.65.

  • The pair remains well within recent ranges with little follow through on moves in this week's dealing.
  • Bulls target a break of the 20-Day EMA (1282.51), from here they can target the 200-Day EMA (1301.52). Bears target the low from 18 July (1257.35).
  • In the equity space; KOSPI rose 0.4% and the KOSDAQ fell 1.9%. In early dealing US equity futures are a touch firmer.
  • At the top of the hour June Industrial Production crosses, a fall of 0.9% M/M is expected.

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