August 25th, 2008

KRW
breaking 1069 resistance saw spot as high as 1080; copntinue higher with absence of BoK to 1105
FX swaps collapsed with 1m implied yield 40bp lower as rumors of USD funding difficulties

England
Worst quarter of econ growth at 0% since H1 '92, forced to the sidelines and keep rates

SGD
CPI to the upside at 6.5% vs. 6.1%; gave SGD some boost after data release
- did ease from 7.5% in June; inflation should ease from USD strength and oil weakness
Trade inister said CB needs to balance growth risks and inflation; stronger FX => drugs, chemicals and electronics

THB
33.79 - 34.16 range, need to test 34.16 for clean break
BoT offering on the way up but not aggressively;
lower than expected GDP in Q2 at 5.3%; from 6.1% in Q1
Political turbulence also led to slowdown in govt spending
PM Samak said wont rescind Thaksin's diplomatic passport
Supreme Court will come to a decision by 17Sep