South Korean Won Slumps To 12-Day Low Against Yen
27 Septiembre 2009 - 7:38PM
RTTF2
Monday during early deals, the South Korean won tumbled to
12-day against the yen as a slump in South Korean stocks decreased
demand for the local currency. The won dropped against the US
dollar too.
The South Korean stock market is trading weak on Monday with the
negative close on Wall Street on Friday amid some disappointing
economic data hurting sentiment to a notable extent.
With stocks cutting across various sectors trading weak, the
benchmark KOSPI index is currently down 15.5 points, or 0.92%, at
1,676. On Friday, the KOSPI had ended down 2.4 points, or 0.16% at
1,691.48.
During early Asian deals on Monday, the South Korean won edged
down to 1197.90 against the US dollar. This may be compared to
Friday's close of 1186.00. On the downside, 1201.80 is seen as the
next target level for the Korean currency.
From US, the Chicago Fed national activity index and Dallas Fed
manufacturing index reports-both for the month of September are
expected in the New York session.
Monday during Asian deals, the South Korean won declined against
its Japanese counterpart. The won touched a 12-day low of 13.410
against the Japanese unit, compared to 13.2310 hit late Friday in
New York. On the downside, the next likely target is seen around
the 13.47 level.
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