The South Korean won rose together with other Asian currencies today with help of positive macroeconomic data from China, which made investors look more favorably on the currencies of emerging markets that are often associated with risk.
The Chinese manufacturing index rose instead of falling as was predicted by specialists. The report eased concerns about potential economic slowdown in China. China, being the world’s second biggest economy, strongly affects the market sentiment, and this time its impact was positive.
USD/KRW went down from 1,043.5250 to 1,040.1450 as of 12:24 GMT today.
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