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Korean Won Gains for Third Week as Moody’s Warning Hurts Dollar

South Korea’s won gained for a third week, its longest advance since April, reflecting reduced demand for dollars after Moody’s Investors Service said the U.S. was at risk of losing its Aaa credit rating.

The company said yesterday it expects to place the rating under review for a possible downgrade unless there is progress on increasing the debt limit by mid-July. European Union and International Monetary Fund officials will complete today a review of Greece’s plan for 78 billion euros ($113 billion) in asset sales and austerity measures as they prepare the nation’s second bailout in little more than a year.