The USD/KRW is up at 1,113.40 from 1,111.40 late Friday in Seoul, rebounding from steep falls in the last two trading sessions before markets were shut for a holiday Monday, traders say. "(Many) local companies are still on holidays, so there aren't likely to be much export settlement orders," and the pair may be able to hold its mild gains, says a local bank trader, who tips a 1,111-1,115 range for the rest of the day. Increased market wariness over possible USD buying intervention by the central bank will also provide support for the pair following its dive to a fresh 2012 low last week, the trader adds. He doesn't expect any active participation from offshore players either today.
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