The South Korean won endured losses on Tuesday against the world's reserve currency on Tuesday as the country noted it is aiming to address volatility, according to Bloomberg.
Falling from near its six-year peak, the won reacted to Finance Ministry Director Kim Seong Wook telling Bloomberg that officials are probing volatility issues amid concern. Before dropping in value prior to markets closing on Tuesday, the won had notched its top rate since August 2008. Prior to losing value just before Tuesday's closing, the won pushed ahead, which the news source linked with data noting shippers selling an increased amounts of dollars. International investors acquired more local shares than they sold on Tuesday, marking the 19th consecutive day.
"Investors are expecting a less hawkish monetary policy meeting, as a strong won will hurt the economic recovery momentum," fixed-income trader Yoo Hyun Chul with Shinhan Investment Corp told the news outlet on Tuesday. "The consensus is that there will be no benchmark rate increase for some time."
The South Korean won edged down 0.1 percent against the U.S. dollar on Tuesday.
South Korean stocks were stronger performing than the positive dollar sentiment, according to The Wall Street Journal.
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