ridethepig | KRW Q3 Macro Flows

📌 A short update here for those tracking USDKRW ... It has been a very slippery pig since the last update:

Here buyers stormed into control and chose to occupy the bid protecting 1140 via Covid flows. The relieving of this profit taking has become a bit more enterprising possibly via the idiosyncratic spike in cases for the U.S.

The next moves are cooked and almost ready to go... since the centralisation of EM FX has taken place, the board is forced to exchange in the same swing. Vaccine headlines are coming in from all angles, more fiscal and CB stimulus are also there for the last few days of July for markets to get stuck into.

Typically we will see the ebb and flow in risk start by August, thin and choppy liquidity markets in the middle of summer make forr useful loading zones in calm waters.

Thanks as usual for keeping the feedback coming 👍 or 👎

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Eyes on the break here

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