The South Korean won gained today as positive data from Europe was followed by some really good numbers from the United States, including new home sales and consumer sentiment, that increased appeal of riskier currencies.
US new homes sales were at a seasonally adjusted annual rate of 321,000 in January, compared to the median forecast of 316,000. The University of Michigan consumer sentiment index was at 75.3 in the final revision, showing a big improvement compared to the preliminary figure of 72.5. This week was very positive for currencies with higher yield and investors who were willing to risk as news from both Europe and the USA was rather good, resulting in a shift of sentiment to optimism after a long period of pessimistic outlook.
USD/KRW fell from 1,129.1000 to 1,125.9000 as of 17:07 GMT today, while the daily low was 1,119.7000.
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