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South Korea authorities suspected of selling USD in FX markets - dealers
June 16, 2017 / 7:51 AM / 4 months ago

South Korea authorities suspected of selling USD in FX markets - dealers

SEOUL (Reuters) - South Korea’s central bank was suspected of selling dollars to slow the won’s fall towards the close of onshore trade, multiple traders said on Friday.

FILE PHOTO: A South Korea won note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File Photo

The South Korean won ended at a five-week low on Friday as investors anticipated the dollar to remain strong following jobs data that could increase the chance of another U.S. interest rate hike before the end of this year.

The won closed at 1,134.1 to the dollar at the conclusion of onshore trade, down 0.9 percent compared to Thursday’s close.

The currency touched as low as 1,138.2 per dollar.

Reporting by Yena Park; Writing by Cynthia Kim; Editing by Richard Borsuk

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