Won rises on positive data from the U.S., which boosts demand for riskier assets

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Source: Bloomberg
© Scanpix/Reuters
South Korea's Won rose and government bonds fell for a second straight day as data indicated the U.S. unemployment claims declined to the lowest level in four years, boosting demand for riskier assets. The won gained 0.3% to 1,111.30 per U.S. Dollar. The Bank of Korea cut its benchmark interest rate to 2.75% yesterday and lowered its forecast for economic growth in 2012 from 3% to 2.4%. 
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