The South Korean won jumped today on the speculation that the central banks of the Asian nations would raise the interest rates, attracting more investors to the region.
The Bank of Korea expected to allow the won appreciate as the inflation forecast to rise to the upper end of the targeted range by the fourth quarter. The growth of the consumer prices in some other Asian countries, including Malaysia, also accelerated.
USD/KRW slumped from 1,186.40 to 1,175.90 today as of 13:59 GMT.
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