The South Korean won slipped on Wednesday against the world's reserve currency, marking a third consecutive trading session of losses against its cross-Pacific rival, according to Bloomberg.
The won's losses were linked with increasing tensions between Ukraine and Russia, which spurred purchases of the U.S. dollar. Ukrainian soldiers advanced against pro-Russian militants' demonstrations and said they encountered Russian soldiers. South Korea should not intervene with foreign exchange matters, states a semiannual report for Congress authored by the U.S. Treasury Department. China is poised to release data about gross domestic production during the first quarter on Wednesday.
Though China, host of the globe's second-largest economy, has endured rough economic waters thus far this year, a Bloomberg-administered survey of analysts and economists indicated the Asian nation's gross domestic product during the first quarter climbed 1.5 percent as compared to the last quarter of 2013.
The won dropped roughly 0.3 percent against the U.S. dollar on Wednesday and has fallen about 1.2 percent against the greenback since last Thursday.
The won started edging higher toward the end of the Wednesday trade session, according to Reuters.
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