Won Falls with Consumer Confidence

The South Korean won fell today as poor domestic fundamentals added to the negative impact of the European crisis on riskier currencies. Fears of slowdown also made the won weaker, yet the currency managed to rebound recently.

This month, the confidence of South Korean consumers dropped to the lowest level in five months. The German Ifo Business Climate Index was down from 105.2 in June to 103.3 in July. The Bloomberg-JPMorgan Asia Dollar Index was at the lowest level in July.

USD/KRW rose from 1,148.2999 to 1,153.5000, but retreated to 1,148.0250 as of 13:16 GMT today.

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