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  Symbol Bid Ask
EURUSD 1.2833 1.2836
GBPUSD 1.517 1.5173
USDJPY 102.82 102.85
USDCHF 0.9715 0.9718
USDCAD 1.0283 1.0286
EURJPY 131.96 131.99
EURCHF 1.2465 1.247
GBPJPY 155.94 156.01
GBPCHF 1.4737 1.4744
GOLD 1342.89 1343.49

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Research: Buy a 1m Jpy/krw Put


Quotes from Barclays Capital:

-Buy a 1m JPY/KRW put (strike: 13.83, 25-delta) for 55bp JPY (ref: spot 14.09).Current spot: 14.07

Rationale:ƒ KRW set to benefit from firm US and Chinese final goods demandƒ. Activity growth recovering, supported by tech cycle upswingƒ. Inflation expectations are elevatedƒ KRW is cheap according to our model.

Political risks passed: inauguration of Kim Jung Un; North Korean missile launch and South Korean parliamentary electionsƒ. We remain bearish JPYƒ

Key risk to the trade: North Korea responds with further "sabre-rattling". BoK intervenes to cap won strength.

Published: 2012-05-03 09:10:00 UTC+00


See also: Current support and resistance levels
EUR/USD
GBP/USD
USD/JPY
GBP/JPY
EUR/CHF
AUD/USD
May 19 at 23:02 UTC
 
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