The South Korean won strengthened today on speculation that China will let the yuan appreciate, bolstering the economy in Asia and increasing the inflow of the global funds in the region; also the easing concern about the Goldman Sachs Group Inc. helped the currency by removing the uneasiness in the global markets.
The speculation that the U.S. regulators were split over whether to charge the Goldman Sachs has lessened the worries that arose after the news about the possible suit for the fraud. The traders are returning to the markets, and as the speculation that the Chinese currency may appreciate are abound the appeal of the Asian currencies, the won amongst them, grows.
USD/KRW traded at 1117.5 as of 10:32 GMT today, little changed from the opening price of 1118.0. JPY/KRW traded at about 12.017 down from the opening rate of 12.074.
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