Won Near 14-Month Low on Speculation Intervention Is Increasing

South Korea’s won was near a 14-month low on speculation the central bank will step up intervention to protect exporters from a weaker yen.

Japan’s surprise expansion of monetary stimulus has sent the yen tumbling against the dollar, giving a comparative advantage to Japanese companies competing against South Korean rivals. Bank of Korea Governor Lee Ju Yeol kept the benchmark seven-day repurchase rate at 2 percent today, as forecast by 19 of 20 analysts surveyed by Bloomberg. One had predicted a 25 basis point cut.