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Won Weakens Past 1,100 Per Dollar as Yen Drop Threatens Exports

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The won fell past 1,100 per dollar for the first time in more than a year amid concern South Korea’s overseas sales will suffer as the yen’s slide to the weakest level since 2007 helps Japanese exporters compete.

The yen dropped to 116.10 against the dollar yesterday after reports suggested Prime Minister Shinzo Abe is preparing to call early elections and that he may postpone a planned sales-tax increase. The Japanese currency fluctuated between gains and losses today as Japan’s Chief Cabinet Secretary Yoshihide Suga said he’s not preparing for a snap poll.