The South Korean won paved the way for additional monetary units of Asia to lose value on Thursday as a consequence of the U.S. Federal Reserve publicizing its decision to taper monetary stimulus measures during the day prior, according to Bloomberg.
The MSCI Asia Pacific Index of shares notched a third-straight trading session of advances. The central bank of the U.S., the globe's largest economy, decided to reduce monthly stimulus measures from $85 billion to $75 billion. The highly-anticipated decision came after the body convened two days of meetings beginning on Tuesday.
"The fall may be limited as the decision eased also uncertainty and foreign funds are expected to come into emerging markets for higher returns," currency trader Han Sung Min with Busan Bank in Seoul told the news source on Thursday.
The won fell roughly 0.8 percent against the world's reserve currency on Thursday as the ringgit of Malaysia fell about 0.5 percent.
Speculation amongst traders and investors had been high earlier this week about the U.S. Federal Reserve reducing the amount of its monetary stimulus program, according to The Business Recorder.
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