The South Korean won declined today on speculation that the government will push the currency down after the rally, following the example of Japan.
There were talks ahead of the Group of Twenty meeting that the members of G20 would demand from Japan to stop devaluing its currency. Such speculations proved to be wrong. Now Forex market participants are worried that South Korea will follow the suit, weakening its currency, which was showing a strong performance.
USD/KRW rose from 1,078.2999 to 1,084.0649 as of 11:04 GMT today.
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