The South Korean won rebounded today as regional stocks advanced after yesterday’s sell-off. It looks like traders are returning to riskier assets, reversing earlier losses.
The benchmark South Korean KOSPI index of shares added 0.1 percent following the previous decline by 1.2 percent. Stocks rebounded as market participants thought that they had fallen too much too fast. The drop was caused by negative news from China.
USD/KRW went down from 1,120.5000 to 1115.1100 as of 10:50 GMT today after reaching the high of 1,124.1350 earlier.
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