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S.Korean won highest in 3 weeks after Fed minutes
January 5, 2017 / 6:53 AM / a year ago

S.Korean won highest in 3 weeks after Fed minutes

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SEOUL, Jan 5 (Reuters) - The South Korean won strengthened to a near three-week high on Thursday as the U.S. Federal Reserve’s December minutes did not show specific support for rapid rate hikes this year, while the stronger Chinese yuan and Japanese yen gave an extra lift.

The won was quoted at 1,186.3 to the dollar at the conclusion of onshore trade, up 1.7 percent versus Wednesday’s close of 1,206.4. It was the highest close since December 19, 2016.

South Korean shares edged down 0.2 percent. The Korea Composite Stock Price Index (KOSPI) closed at 2,041.95 points.

Offshore investors have been net buyers for a seventh straight day, purchasing a net 84.2 billion won ($71.08 million) worth of KOSPI shares on Thursday. (Reporting by Dahee Kim; Editing by Eric Meijer)

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