Published at 01:41 (GMT) 10 Apr
USD/JPY Fixing set at 102.06.
BoK keeps Base Rate unchanged at 2.50% for 11th month, under new Governor Lee Ju-yeol.
On FX, USD/JPY lower after go-to-bi Nakane fixing demand filled. USD/JPY down at 101.92-95, but bid at 101.70-80, offers still at 102.10-20, weak stops above 102.30. Focus on USD/KRW, JPY/KRW - as KRW continues to make fresh highs. USD/KRW extended losses to 1,032.0 - after the clear break of 1,050/40. Possibly as BoK allows for some KRW rise given current broadly weaker USD, dovish Fed. USD/KRW at lowest level in 5-year 8-months since Aug 12 2008 1,030. Focus on any BoK bids, intervention at 1,030 lows as BoK and MoF seen warning about herd behaviour. Warning markets they are watching FX closely.
USD/KRW support at 1.030 for now. JPY/KRW under pressure on USD/KRW fall and inflows into KRW, assets. JPY/KRW at 3-month lows 10.122/142 levels, lowest since Jan 10 10.0934. Support at 10.00-10, resistance now at 10.50. Eye any BoK intervention in USD/KRW to curb KRW rise vs USD, JPY. WL
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