Won Reaches One-Year Low vs. Dollar

The South Korean won fell today, touching the lowest level in a year against the US dollar, as the Forex market stayed in the risk-aversion mode after the US Federal Reserve signaled last week about a possible end to quantitative easing.
Fear of stimulus reduction reigned the market last week, bringing the dollar up and other currencies down. Higher-yielding assets slowed their decline by the weekend, but it looks like the drop has resumed at the start of this week. It drove the won to the lowest level since June 2012.
USD/KRW rose from 1,156.4000 to 116.0250 as of 15:29 GMT today.

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