Korean Won Gains to One-Month High as Fed Seen Keeping Rates Low
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South Korea’s won rose to a one-month high on optimism the Federal Reserve will keep U.S. interest rates low for an extended period, bolstering demand for emerging-market assets.
The Bloomberg Dollar Spot Index fell the most in a week yesterday after U.S. home sales and manufacturing data missed estimates. The won was also supported today by speculation exporters are offloading dollars to pay month-end bills, said Jeon Seung Ji, a currency analyst at Samsung Futures Inc.