September 2nd, 2008

KRW
Spot opened at 1116 but shot higher after KOSPI reversed from +1% to -1.5%
BoK report that USDKRW strength unlikely to disappear

THB
State of emergency; somewhat expected but spot higher
spot reaction somewhat muted with BoT intervention; offshore curve very well bid
Confederation of State Enterprise Labor announced 200,000 state workers will go on strike to protest violence against PAD
Aug CPI eased to 6.4% in July; 2008 inflation to average 6.5-6.9%

ZAR
Commodities are off with Gustav not as serious; EUR breaking 1.4600 level
EM equities also under pressure; local stocks being no exception
Mboweni said would be open to serving a 3rd 5yr term when this one expires in a years time