Seoul: Won rebounds on US dollar selling, stocks firmer

The South Korean won rebounded early on Tuesday as investors sold the greenback, taking profits after it strengthened sharply over the past two sessions.

The won was quoted at 1,118.5 as of 0206 GMT, up 0.7 per cent compared with Monday's close of 1,126.5.

"The won has been reacting to the dollar's movements most sensitively among Asian currencies recently, which would explain today's sharp rise," said Jeong My Young, a foreign exchange analyst at Samsung Futures.

She added that investors will turn their attention to a speech by Fed Chair Janet Yellen in Jackson Hole, Wyoming, later this week for the won's next moves, although direct hints about the US Federal Reserve's next policy move seems unlikely.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg