South Korea Won Up

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South Korea Won Up

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South Korea Won Up
« เมื่อ: ?Á?Ҥ?14, 2016, 09:45:05 AM »

South Korea Won Up 0.3% After BOK Holds Rate at Record Low -- Market Talk

14 July 2016, 02:08


 

0208 GMT [Dow Jones] The South Korea won rose against the U.S. dollar after the Bank of Korea kept interest rates unchanged as widely expected. The USD/KRW pair dropped to 1,142.5 from around 1,146.0, representing a 0.3% strengthening of the won against the dollar. Analysts had expected the BOK to keep its base interest rate at a record low of 1.25%, in light of the government's June announcement of a $17 billion economic stimulus package. The BOK had also cut its base rate in June, for the first time in a year, and is thus likely to adopt a wait-and-see approach for the medium term. The won has a good chance of furthering its rally against the dollar, the USD/KRW daily chart suggests. If the pair ends the day below 1,146.0, the Bollinger downtrend channel will remain in effect, guiding the dollar lower toward the 1,135.0 base of the channel. USD/KRW is now 1,142.5 from its Wednesday closing of 1,146.4. (ewen.chew@wsj.com)
 
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(END) Dow Jones Newswires

July 13, 2016 22:08 ET (02:08 GMT)

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