South Korean Won Edges Up To 2-day High Against Yen
09 Oktober 2009 - 5:50AM
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In early Asian trading on Friday, the South Korean won edged up
to a 2-day high against its Japanese counterpart. The won reached
13.0920 against the yen, with 13.024 seen as the next upside target
level. The yen-won pair was worth 13.17 at yesterday's New York
session close.
Today, the Bank of Korea voted to keep interest rates on hold
for the eighth consecutive month, maintaining the record low of
2.00 percent - in line with expectations.
Most analysts expected the bank to maintain the status quo,
although a few felt that the bank might follow Australia's lead
from earlier in the week with a 25 basis point hike - signaling
that the global economic slowdown is indeed over.
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