The South Korean won rose today, paring its previous decline, as investors continue to buy the nation’s assets, pumping capital into the South Korean economy.
Speculators continued to buy more South Korean stocks more than they were selling. It looks like risk appetite surged after the debt crisis in the United States was resolved and the Federal Reserve postponed quantitative easing trimming. There are concerns that South Korean policy makers may intervene, weakening the currency, to support local exporters, but for now the won managed to hold ground.
USD/KRW was down from 1,061.7000 to 1059.5800 as of 12:45 GMT today after rallying to 1,064.1150 earlier.
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