The South Korean won rose today after the nation’s central bank decided to keep the interest rates unchanged and tensions about Europe subsided.
The Bank of Korea left its Base Rate unchanged at 3.25 percent. Such decision was expected by analysts. There are signs that Greece and Italy resolved their problems with selecting new leaders. The absence of apparent leadership was eating away confidence in ability of the nations to deal with the debt crisis, but now concerns eased. Risk appetite may return to markets and that’s positive for riskier currencies, like won.
USD/KRW fell from 1,132.5000 to 1,126.2999 as of 13:57 GMT today, while earlier the currency pair reached the low of 1,122.9000.
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