Won drops to 3-week low amid intervention concerns

The South Korean Won declined to the lowest level in three weeks on Wednesday amid speculation that the country's lawmakers may weaken the currency in order to protect exporters as the Japanese Yen fell to the weakest level since October 2008. The Won slipped 0.8% to 1,114.76 per U.S. Dollar in Seoul after it touched 1,115.23 earlier on the session, the lowest since April 25.