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In Seoul FX trading before 9AM, the dollar-won spot MAR (market average rate) quote traded at plus 0.05 won, with multiple brokers reporting NDF fixing positions as square on the 18th. A square fixing book removes the mechanical bid or offer pressure that fixing-related flows often impose on USD/KRW around the morning open, leaving the pair more exposed to offshore dollar direction and equity-related flows. Watch whether fixing demand rebuilds into a net long or short position later in the session, since a shift there would reintroduce a directional bias to USD/KRW.
As a Forex signal, watch whether it changes price action, volatility, or flows around KRW=X.
Original Source: 연합인포맥스
This page is market information analysis, not investment advice.
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