The South Korean won rose on Wednesday against the world's reserve currency amid optimism for growth and expansion in the globe's two largest economies, according to Bloomberg.
The U.S. Institute for Supply Management manufacturing index checked in at 55.3 in June, near the highest value in five months. Chinese factories' generation in June developed the most thus far this year. South Korean consumer prices rose 1.7 percent in June as compared to the same period in 2013. The Bank of Korea released minutes from last month's policy meeting.
"Investors noticed that BOK board members adopted a more dovish stance in yesterday's minutes," fixed-income analyst Park Dongjin with Samsung Futures Inc. in Seoul told the news outlet on Wednesday, noting some policy makers might be driving toward slashing borrowing cuts during next Thursday's meeting.
The South Korean won climbed roughly 0.2 percent against the U.S. dollar during the midweek trading session, having earlier touched its highest rates since late July 2008.
Exports from South Korea last month rose 2.5 percent as compared to the June 2013 figures, according to trade ministry data cited by the South Korean ministry of trade.
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