Korea’s Won Jumps on Inflation Forecast

The South Korean won climbed today as outlook for higher consumer prices growth compared to the previous estimates increased appeal of the nation’s assets.

According to the statement of the presidential office, the growth of the consumer-price inflation will reach 4 percent this year, compared to the official target of 3 percent. It looks like the Asian nations fare much better than western countries these days and that attracts investors to the region. Currently, markets in the “risk-on mode” and such sentiment also help Asian currencies, including the won.

USD/KRW fell to 1,077.00 from 1,083.30 as of 13:00 GMT today.

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