SEOUL: The South Korean won fell against the dollar on Wednesday as investors turned cautious ahead of a speech by US Federal Reserve Chairman Ben Bernanke later in the day that may offer clues on its bond buying programme.
On the Seoul stock market, foreign investors were net buyers for a fourth consecutive session -- the longest since early March -- but this as well as the Bank of Japan's decision to keep its policy failed to move the currency market.
The South Korean currency ended the session at 1,114.0 per dollar, down from Tuesday's local close of 1,110.6.
"I think Bernanke won't make any remark signalling a big change in the US policy, and (after that event) there are factors in favour of the won's strengthening such as foreign stock purchases," said a domestic bank dealer.
The Seoul stock market's KOSPI rose 0.64 percent, led by foreign purchases totalling a net 135 billion won ($121 million).
Comments
Comments are closed for this article.