Skip to content
Subscriber Only

Korea Won Snaps Five-Day Drop on Fed Rates Outlook, China Growth

South Korea’s won ended five days of losses after the Federal Reserve signaled it will keep interest rates near zero and China pledged to prop up growth.

The Federal Open Market Committee continued to trim stimulus that has fueled a rally in global equities and bonds. Fed Chair Janet Yellen said the U.S. central bank expects borrowing costs to stay low for a “considerable time” after the conclusion of its monthly debt purchases. Chinese Premier Li Keqiang said in London the same day that there will be no hard landing in the world’s second-largest economy.