GBP/JPY Rises with Retail Sales & Services
Japanese Yen Falls as Investors Prefer Higher Yielding Assets
Expanding South Korean Economy Increases Appeal of Won
The South Korean won rose today to highest level in almost seven weeks as the inflows of foreign funds help the economy of South Korea, making the nation’s assets more attractive.
The Bank of Korea reported that the South Korean gross domestic product advanced 0.5 percent in the fourth quarter of 2010, confirming the previous estimate. The government report this week is expected to show that the inflation accelerated to 4.8 percent in March, the highest level in two years.
USD/KRW fell from 1,111.60 to 1,099.80 as of 14:15 GMT today.
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Earlier News About the South Korean Won:
- South Korean Won Becomes Stronger with Better Global Economy (2011-03-29)
- G-7 Will Help Japan, South Korean Won Gains (2011-03-18)
- Korean Won Rises as Crude Oil Retreats from Record (2011-03-09)
- South Korean Won Rally with Other Asian Currencies (2011-03-04)
- South Korean Won Gains on China's Inflation (2011-02-15)