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South Korean Won Gains on US Dollar, Ignoring Negative Fundamentals

January 13, 2017 at 14:17 by Vladimir Vyun

10,000-wonThe South Korean won gained against the vulnerable US dollar today even though fundamentals were not supportive to the Asian currency.

The KOSPI Index fell 0.5% today. The drop of the Korean stocks was led by Samsung shared, which lost 3% of their value after Samsung Group leader Jay Y. Lee was detained for questioning on bribery suspicion. The Bank of Korea left its main interest rate at the record low of 1.25% in line with market expectations.

USD/KRW dropped 0.82% to 1,174.98 as of 14:07 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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