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Korean Won Advances Most Since June as Ukraine Tensions Ease

South Korea’s won advanced the most in two months as signs that tension between Russia and Ukraine are easing supported demand for riskier assets.

The MSCI Asia Pacific Index rose for the first time in a week and the Kospi gauge advanced the most this month after Russia’s Interfax said military exercises near Ukraine are over and troops are returning to their bases. The Bank of Korea will lower its benchmark interest rate to 2.25 percent on Aug. 14, according to 13 of 15 economists surveyed by Bloomberg. Two expect no change.