The South Korean won rallied today as positive data from the United States made investors more courageous and willing to buy riskier assets of emerging economies.
Yesterday’ US retail sales report improved the market sentiment, though also boosting the US dollar. The positive mood made traders buy South Korean shares, resulting in higher capital inflows into the Asian nation. The Bank of Korea cut interest rates last week, reducing the appeal of the won. Still, the currency advanced today amid the positive trading environment.
USD/KRW 1,113.6000 to 1112.1649 as of 11:41 GMT today and its daily low was at 1,106.9000.
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