Korean Won Surges to Become Asia’s Best-Performing Currency
- Improving data show Korea economy may have turned corner
- Dollar-won pair formed bearish death cross earlier this month
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South Korea’s won has surged through the pack to become the best-performing Asian currency for December after being the outright worst over the previous 11 months.
The catalysts behind its revival: the agreement of an initial trade deal between the U.S. and China -- South Korea’s two largest trading partners -- and improving local data that suggest that economy is turning the corner following a series of interest-rate cuts.