South Korean Manufacturers Feel Confident, Won Jumps
The South Korean won climbed today as nation’s manufacturer confidence jumped to the nine-month high and hopes for growth of the US economy boosted prospects for higher-yielding assets of emerging markets.
The Bank of Korea reported that the index of South Korean manufacturers’ outlook for May climbed to 90 from 85 for April, reaching the highest level since August 2011. The index for non-manufacturing sector expectations was up from 82 to 85. The won also gained as the growing US economy is expected boost demand for exports from emerging markets.
USD/KRW fell from 1,133.2999 to 1,127.7999 as of 13:13 GMT today.
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Earlier News About the South Korean Won:
- Traders Sell Won in Favor of Dollar on European Politics (2012-04-24)
- Won Gains as North Korean Rocket Launch Fails (2012-04-13)
- 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)