Korean won rebounds to pre-pandemic level; more gains seen until US election
Ik-Hwan Kim
Sep 18, 2020 (Gmt+09:00)
The South Korean won leapt to its highest close in eight months against the dollar on Sept. 18, powered by foreign investors’ week-long stock buying and the Chinese yuan’s rally.
The local currency is expected to continue its upward run through the Nov. 3 US presidential election, with the Federal Reserve’s commitment to ultra-low interest rates likely to boost investors’ risk appetite, analysts said.
The won closed at 1,160.3 per dollar, just off the intraday high of 1,160.2, versus Thursday’s finish at 1,174.4.