» » South Korea Won as Falls as Rival Yen Tumbles to Seven Year-Low

South Korea Won as Falls as Rival Yen Tumbles to Seven Year-Low

Add Comment
General News
Wednesday, November 19, 2014
        0138 GMT [Dow Jones] The South Korea won falls to a new 14-month high of 1104.6 as trade rival Japan's yen tumbles again. USD/KRW resumes its rally after two sessions of bearish closings (below the day's opening level). The driver for USD/KRW is once again USD/JPY which has notched a new seven-year peak after Japan's Prime Minister called for snap elections, seeking reaffirmation for his monetary-easing policies--which have so far underwhelmed in terms of economic growth. The bullish technical bias for USD/KRW has strengthened after last week's closing above the 200-week moving average at 1,095-- a medium-term technical indicator. USD/KRW may attempt to enter the monthly Bollinger uptrend channel at 1107 next. USD/KRW is now 1104.3 from its Tuesday close of 1099.0. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        November 18, 2014 20:38 ET (01:38 GMT)

0 Response to "South Korea Won as Falls as Rival Yen Tumbles to Seven Year-Low"

Thanks for give comment.

Subscribe to: Post Comments (Atom)