Asian currencies fell today and the South Korean won was the biggest loser among them. Wide-spread risk aversion on the Forex market made investors flee riskier assets and stick to safer ones.
There are plenty of reasons for investors to worry about. The Federal Reserve’s quantitative easing tapering, signs of economic slowdown in China, political turmoil in several emerging economies make the environment very unhealthy for risky investments. Unsurprisingly, traders prefer to avoid risk in such conditions, hurting high-beta currencies.
USD/KRW rose from 1,073.5000 to 1086.8850 as of 16:17 GMT today.
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