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South Korean Won Pares Losses with Help from Domestic Fundamentals

November 13, 2013 at 12:13 by Vladimir Vyun

Coins on a 1,000-won noteThe South Korean won was flat, paring decline, as domestic fundamentals helped the currency to overcome the general risk-negative market sentiment.

Talks about the potential stimulus reduction by the Federal Reserve continued to spoil traders’ willingness to risk. Such speculations intensified after Atlanta Fed President Dennis Lockhart signaled that such reduction may happen as early as December. The won was able to erase losses despite the negative market sentiment as South Korean fundamentals were good, including the relatively low level of unemployment.

USD/KRW traded near opening level of 1,073.1000 GMT after rallying to 1,074.8149 earlier.

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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