SEOUL: The South Korean won inched down in early domestic trade on Wednesday, pressured by the dollar's strength overnight from data that showed the US economy doing reasonably well, despite last month's partial government shutdown.
The local currency was quoted at 1,062.8 against the dollar as of 0215 GMT, down 0.15 percent from Tuesday's onshore close at 1,061.2.
The Institute for Supply Management's service sector business activity index was a strong 55.4 in October, defying economists who had expected the number to fall.
The dollar found more support after the euro slid on disappointing the euro zone data, putting the European Central Bank under pressure to take action at its policy meeting on Thursday.
Global data fell short of moving the won much, with market participants saying offshore events had less influence on the currency than before because of frequent government intervention to curb volatility.
"Offshore investors are buying more dollars after seeing foreigners reducing their South Korean stock buying while US bond yields rose overnight," said a bank dealer in Seoul.
"However, a boxed trading range is expected for the time being."
The benchmark Korea Composite Stock Price Index was nearly flat, trading at 2,013.58 points.
December futures on three-year treasury bonds ticked down 0.03 points to trade at 105.73, tracing US treasuries prices after the US service sector data came in stronger than expected.
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