USD/KRW Price Analysis: South Korean won crashes 1.50% on N. Korean leader’s illness


  • USD/KRW hits fresh two-week highs, rises sharply by about 1.50%.
  • Broad dollar recovery, N. Korean Leader Kim’s illness drives spot higher.
  • South Korea’s April exports collapse amid coronavirus pandemic.

USD/KRW extends the range breakout to the north and flirts with a new two-week high of 1,238.96, rallying 1.50% so far in Tuesday’s Asian trading.

South Korean won fell sharply against the greenback following reports that the North Korean Leader Kim Jong-Un is ill and undergoing a cardiovascular procedure. Further, NBC News reported that the North Korean leader is brain dead, which also weighs down on the won.

Adding to the bearish sentiment around the Asian currency, South Korea’s exports collapsed for the first 20 days of April by nearly 27% YoY, underscoring the coronavirus impact on the global supply chains and demand.

Further, liquidity injections by the Bank of Korea (BOK) and broad-based US dollar recovery also collaborate with the relentless rise in the cross. The South Korean central bank provided 270 billion won of liquidity via weekly operations.

South Korean won: Levels to watch

USD/KRW

Overview
Today last price 1238.75
Today Daily Change 15.99
Today Daily Change % 1.31
Today daily open 1220.62
 
Trends
Daily SMA20 1221.46
Daily SMA50 1213.09
Daily SMA100 1192.48
Daily SMA200 1190.55
 
Levels
Previous Daily High 1222.16
Previous Daily Low 1215.06
Previous Weekly High 1230.16
Previous Weekly Low 1209.64
Previous Monthly High 1292.5
Previous Monthly Low 1176.33
Daily Fibonacci 38.2% 1219.45
Daily Fibonacci 61.8% 1217.78
Daily Pivot Point S1 1216.4
Daily Pivot Point S2 1212.19
Daily Pivot Point S3 1209.31
Daily Pivot Point R1 1223.5
Daily Pivot Point R2 1226.38
Daily Pivot Point R3 1230.59

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD falls toward 1.19 after robust US Nonfarm Payrolls data

EUR/USD is trading above 1.19 after dipping below that number in response to the US Nonfarm Payrolls, which showed an increase of 379K jobs in February. Higher yields in response to Powell are keeping the dollar bid.

EUR/USD News

GBP/USD recovers after post-NFP dip below 1.38

GBP/USD is trading above 1.38 bus till down the day. The US gained 379.000 jobs, roughly double than expected and supporting the dollar. The Senate's stimulus debate is eyed.

GBP/USD News

XAU/USD battles 1700 level

Gold is staging a rebound toward $1,700 amid proift-taking ahead of the weekend but remains on track to close the third straight week in the negative territory.

Gold News

Ethereum price primed for a swift recovery as the network prepares for a major update in July

Ethereum price aims for a significant recovery towards $2,000. A major upgrade scheduled for July intends to fix the problem with gas fees on Ethereum. ETH miners are not happy with the decision.

Read more

US Dollar Index pushes higher to 92.20 on stellar Payrolls

The march north in the greenback remains unabated and trade in fresh 2021 highs beyond the 92.00 hurdle when tracked by the US Dollar Index (DXY).

US Dollar Index News

Forex MAJORS

Cryptocurrencies

Signatures