Won Recovers, Still Heading to Weekly Loss
The South Korean won recovered a bit today, following the previous massive slump. The currency was still heading to a big weekly loss.
The prospects for an end to Federal Reserve quantitative easing scared investors and led to capital outflows from emerging economies. The won sank because of that, but now is attempting to recover, following some other risky currencies. Still, the South Korean currency is 2.5 percent down over the week so far.
USD/KRW fell from 1,157.2350 to 1,154.6749 as of 13:21 GMT today.
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Earlier News About the South Korean Won:
- Won Falls, Still Heads to Weekly Gain (2013-06-07)
- Won Gains as Exporters Sell Dollars (2013-05-27)
- Intervention Concerns Push Won Lower (2013-05-15)
- Won Rallies amid Risk Appetite (2013-05-14)
- South Korean Won Retreats Even amid Favorable Fundamentals (2013-05-02)