South Korean Won Retreats on Possibility of Intervention

The South Korean won ended its five-day rally, falling today, on concerns that the government will intervene to slow the appreciation of the currency.
The won also weakened on the speculation that demand for the dollar will increase as overseas investors will convert their earnings. Foreign investors expanded their holdings of Korean shares for a 14th day, the longest streak of net purchases so far this year.
USD/KRW rose from 1,087.70 to 1,088.80 today as of 16:23 GMT after reaching 1,092.10 earlier.

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