The South Korean won was leading the slump of Asian currencies this year against the world's reserve currency despite having achieved strong gains during the second half of 2013, according to Bloomberg.
The U.S. Federal Reserve's tapering of its monetary stimulus measures has pulled down the won. The monetary unit also is being pinched by underwhelming economic data about China, the host of the globe's second-largest economy.
"The won has been on the receiving end of negative emerging-market sentiment and we would like to see a return of portfolio inflows to indicate investors are comfortable to enter," states an email penned by strategist Patrick Bennett with Canadian Imperial Bank of Commerce in the middle of last week, according to Bloomberg.
Since December 31, 2013, the South Korean won has fallen 2 percent against the greenback after marking advances of 2.4 percent against the U.S. dollar during the final quarter of last year, Bloomberg reports.
U.S. Secretary of State John Kerry is set to make his fifth visit to Asia later this week, according to Reuters. He is slated to visit China, South Korea, Indonesia and the United Arab Emirates.
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