South Korean Won Soft amid Poor Market Sentiment
The South Korean won declined today as the risk aversion on the Forex market deterred traders from higher-yielding assets of emerging economies, including the South Korean ones.
The market sentiment was hurt by the comments of Senate Majority Leader Harry Reid about lack of progress in the talks about avoiding fiscal cliff. Europe’s problems also remain a negative factor even after Greece managed to convince the European Union to ease terms of the rescue package. All in all, it is not a good trading environment for currencies associated with risk.
USD/KRW rose from 1,086.7999 to 1088.5900 as of 11:21 GMT today.
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Earlier News About the South Korean Won:
- Won Drops as on Intervention Worries (2012-11-23)
- Won Drops on Fears of US Fiscal Cliff (2012-11-16)
- Won Reaches 13-Month Record (2012-10-30)
- Won Remains Weak Even as BoK Maintains Key Rate (2012-09-13)
- Rating Agencies Raise Korea's Credit Grade, Won Strengthens (2012-09-06)