South Korean Won Rallies, Will Government Intervene?

The South Korean won extended its gains for the fifth day after the macroeconomic data from the US eased the concerns about the global economic growth.
The yesterday’s report showed that the conditions of the service industries in the US were better than estimated and the report today expected to show that the number of jobless claims decreased. The government may intervene to limit the currency’s gains, but this month the won may continue to rise.
USD/KRW traded near 1,666.50 as of 8:54 GMT after opening at 1,167.60.

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