Market Sentiment Improves, South Korean Won Gains

The South Korean won gained today as the comments of Federal Reserve Chairman Ben S. Bernanke last Friday increased risk appetite among Forex market participants, bolstering appeal of higher-yielding currencies.

Bernanke made comments on August 26 about ability of the US to support growth of its economy in the long run. Markets reacted positively and traders began search for higher-yield. South Korean trade balance surplus widened to $4.94 billion in July from $2.03 billion in June.

USD/KRW fell from 1,080.10 to 1,073.50 today as of 13:46 GMT.

If you have any questions, comments or opinions regarding the South Korean Won,
feel free to post them using the commentary form below.