Seoul: Won, stocks take breather ahead of Yellen's speech

The South Korean won advanced on local exporters' demand on Friday, but gains were capped as traders looked ahead to a meeting of central bankers in Jackson Hole, Wyoming, with all eyes on a speech by Federal Reserve Chair Janet Yellen.

The won was quoted at 1,114.2 against the US dollar as of 0200 GMT, up 0.2 per cent versus its previous close.

"Trading is expected to be mixed throughout the session on exporters' dollar sales and caution over a US interest rate hike in the near-term," said Jung Sung Yoon, an analyst at Hyundai Futures.

South Korean shares sagged for a third session but like the won, trading was subdued ahead of Ms Yellen's speech later in the day at the annual gathering of central bankers. The focus is on whether Ms Yellen could provide more clarity on US rates outlook for the rest of the year.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