Will Korean won continue to gain ground against US dollar?
With the Korean won bouncing back against the U.S. dollar, there is growing attention to whether the local currency will continue to gain ground against the greenback, on the back of a string of events this week in the United States and China that raise hope for relief from U.S. inflation as well as the dollar's decline. The won has remained at the 1,400-won level for more than a month, adding to concerns over economic turmoil in Korea, as this level has only been observed twice before: during the 1997-1998 Asian financial crisis and the 2008-2009 global financial crisis.
Source: koreatimes.co.kr
