The South Korean won rose today, paring earlier losses, as positive data from China improved the market sentiment. News from Europe was not pretty, though, and the mood did not completely recover.
The fundamental reports from China were good, easing fears about economic slowdown in the Asian nation. Europe, on the other hand, is not tired of providing bad news. Peripheral European economies are not the only ones showing signs of bad developments as was demonstrated by Moody’s change of outlook for Germany, the Netherlands and Luxembourg from stable to negative. Nevertheless, the good news play more important role among Forex traders currently.
USD/KRW fell from 1,150.1250 to 1,147.9500 as of 10:23 GMT today.
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