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South Korean Won Falls vs. US Dollar After North Korean Missile Test

May 29, 2017 at 16:57 by Vladimir Vyun

3 Korean coins and 2 banknotesNorth Korea performed yet another missile test, but markets were not disturbed by the event much. Nevertheless, the South Korean won fell a bit against the US dollar.

North Korea fired one short-ranged missile that landed in the sea off its coast. Market participants did not feel particularly worried by the news, and the won’s decline was likely rather a result of the dollar’s strength. The US currency gained support by the end of the last week from the positive revision of the nations gross domestic product, though today the currency struggles to move further up as trading is sluggish while markets in the United States and the United Kingdom are closed for holidays.

USD/KRW ticked up 0.11% to 1,122.03 as of 16:56 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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