The South Korean won declined today on speculations that US policy makers will continue to reduce monetary stimulus despite the recent string of poor economic data.
Several policy makers said on Friday that the current pace of asset-purchase reductions is appropriate and should be maintained. As for the recent unfavorable economic reports, they were attributed to bad weather and possibly do not reflect the actual economic situation. Prospects for continuous quantitative easing tapering make investors pull their money out of emerging economies.
USD/KRW was up from 1,072.60 to 1074.23 as of 9:30 GMT today and its daily high was at 1,078.85.
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