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Yesterday's escalation of U.S.-China.....>

KOREAN WON
KOREAN WON: Yesterday's escalation of U.S.-China tensions pushed USD/KRW higher
as onshore trade reopened. The rate last sits +3.95 fig. at KRW1,234.85. Little
of note seen out of South Korea this morning.
- The rate has penetrated resistance from May 18 high of KRW1,234.00, which
shifts topside focus to Apr 21/2 highs of KRW1,240.90/1,242.55. Conversely, a
drop below the 50-DMA, intersecting at KRW1,227.28, would expose May 19 low of
KRW1,221.25.
- South Korea's consumer confidence hits the wires on Tuesday, Business Survey
is due on Wednesday and industrial output comes out on Friday. The BoK announces
its monetary policy decision on Thursday.

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