Economics
Korean Won Reverses Losses as China GDP Growth Beats Estimates
- Currency climbs to three-month high, after weakening 0.3%
- China is the No. 1 destination for South Korean exports
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The won reversed earlier losses and rose to a three-month high after economic growth in China, South Korea’s biggest export market, topped forecasts.
China’s gross domestic product increased 6.9 percent from a year earlier in the last three months, compared with a median estimate of 6.8 percent in a Bloomberg survey. Expansion in South Korea is expected to have quickened in the third quarter, economists predict before data due Friday.