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Won Reaches One-Year Low vs. Dollar

June 24, 2013 at 15:29 by Vladimir Vyun

10,000-wonThe South Korean won fell today, touching the lowest level in a year against the US dollar, as the Forex market stayed in the risk-aversion mode after the US Federal Reserve signaled last week about a possible end to quantitative easing.

Fear of stimulus reduction reigned the market last week, bringing the dollar up and other currencies down. Higher-yielding assets slowed their decline by the weekend, but it looks like the drop has resumed at the start of this week. It drove the won to the lowest level since June 2012.

USD/KRW rose from 1,156.4000 to 116.0250 as of 15:29 GMT today.

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

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