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Korean won falls as intervention concerns counter China optimism

Posted on 23 November 2012

South Korea’s won weakened for a third day as concerns that the government will act to stem currency gains offset optimism the Chinese economy is set for recovery. Government bonds were steady.
South Korea’s Deputy Finance Minister Choi Jong Ku said yesterday there is “herd behavior” in currency market and that the government will take action to curb excessive fluctuations. The won is the best-performer among 11 most-traded Asian currencies since end of June. A preliminary reading released yesterday signaled China’s manufacturing may expand in November for the first time in 13 months………………………………………..Full Article: Source


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