The South Korean won lost value on Wednesday after achieving two consecutive days of gains, according to Bloomberg.
The won's losses on Wednesday were correlated with stronger manufacturing data released by the U.S., which heightens the likelihood of the U.S. Federal Reserve pulling down monetary stimulus measures. Governor Kim Choong Soo with the Bank of Korea said that could happen as soon as September 17, when the Fed convenes two days of meetings.
"The market overall is skittish today. There is resistance above the 1,100 level, but local exporters feeling out the market for possible dollar sales are also blocking the won's downside," a local bank dealer in Seoul told Reuters on Wednesday. "It's unlikely we'll see a firm direction ahead of the US jobs data."
Losses for the won on Wednesday climbed as high as 0.2 percent, notating the top slump since August 27.
Manufacturing data from last month indicates the sector advanced more rapidly than any time during the past two-plus years, according to Reuters. That prompted the won to backtrack on foreign exchange markets.
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