Won Hits Four-Month High Despite KOSPI Selloff
The South Korean won extended gains for a second day against the dollar, on track for a 6.5% monthly rally, as strong economic data and tightening bets overshadowed equity weakness.
The Korean won strengthened to a near four-month high versus the greenback, extending its advance for a second consecutive session. The currency is now poised for a 6.5% gain this month, its best performance in recent periods.
The rally came despite a selloff in the benchmark KOSPI stock index. Robust South Korean macroeconomic indicators and growing market expectations that the Bank of Korea will tighten monetary policy have provided support, overshadowing the equity downturn.
Analysts point to strong export figures and improving consumer sentiment as key drivers. The won’s resilience underscores a shift in focus from external risk to domestic fundamentals.
Source: FXStreet Forex News