Won Drops vs. Euro on Threat of Economic Slowdown in Asia

The South Korean won fell against the euro today on concerns that problems in Europe crippled economic growth of Asian nations. The currency was also down versus the US dollar, but later rebounded.
South Korean exports unexpectedly fell 6.6 percent on year-over-year basis in January, posting the first decline in two years. Annual consumer price inflation was at 3.4 percent, the lowest rate since January 2011. Other Asian countries also showed signs of economic slowdown, though fundamental data from China was surprisingly good.
USD/KRW climbed from 1,125.7000 to 1,129.7999, but retreated and traded at about 1,124.3500 as of 10:50 GMT today. EUR/KRW rose from 1,474.3500 to 1,476.2500.

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