Won reaches a 13-month high as exporters sold Dollar

Source: Bloomberg
© Scanpix/AP
The Won, South Korea's currency, climbed by 0.1% to 1,095.90 against the Dollar in the end of Asia trading hours. The Won is around a 1,094.50 resistance level, which holds since September 14, 2011. According to traders, the Won's gains are mainly caused by South Korean exporters, who sell the Dollar to convert currency before the Japan's central bank meeting. High exchange rate hurts South Korea's exports, as domestic goods become more expensive for foreign importers.  
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Mon, 29 Oct 2012 09:46:56 GMT

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