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Client Cabinet
  Symbol Bid Ask
EURUSD 1.2938 1.2941
GBPUSD 1.5095 1.5098
USDJPY 102.94 102.97
USDCHF 0.973 0.9733
USDCAD 1.031 1.0313
EURJPY 133.19 133.22
EURCHF 1.259 1.2593
GBPJPY 155.35 155.42
GBPCHF 1.4687 1.4694
GOLD 1391.3 1391.9

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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 22 at 13:15 UTC
 
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