Won Gains as North Korean Rocket Launch Fails
The South Korean won rose today after North Korean rocket launch failed, easing tensions in the region. The overall positive mood on the Forex market also benefited the currency.
South Korean politicians were concerned that the rocket launch was a part of nuclear weapon tests and threatened the country. North Korean claimed that the rocket wasn’t nuclear weapon and carried a satellite as a part of celebration for the centennial of state founder Kim Il Sung. Anyway, the rocket exploded within minutes of its launch.
USD/KRW fell from 1,133.6000 to 1,135.1000 as of 13:57 GMT today.
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Earlier News About the South Korean Won:
- Won Climbs as Moody's Changes Outlook to Positive (2012-04-02)
- Won Drops as China's Manufacturing Slows (2012-03-22)
- Won Drops as China Reduces Appeal of Risky Assets (2012-03-21)
- South Korean Won Rises After Central Bank Maintains Interest Rates (2012-03-08)
- Won Gains on Positive Data from Europe & USA (2012-02-24)