Picture perfect technical setup here for a short play to the downside for USDKRW.
- We hold a guarded optimistic view on economic recovery across the South Korean economy following revisions in growth expectations. We see slowing growth bottoming out with sensitivity now positioned to the upside and a gradual rebound across the semiconductor sector as a hedge against further monetary easing. - Confirmation via BOK commentary should see decisive technical conviction through the neckline and flows into the buyside floor as optimism rises. - Put exposure added across our macro and directional portfolios.