SEOUL: The South Korean won edged lower on Wednesday after better-than-expected US retail data pointed to strength in the world's biggest economy, bolstering demand for the dollar.
The local currency was quoted at 1,063.1 against the dollar as of 0220 GMT, compared with Tuesday's domestic close at 1,059.1.
The retail sales data eased concerns about the pace of growth in the US economy and helped halt the dollar's broad retreat in Asian markets triggered by a weaker-than-expected jobs report last week.
Also helping underpin the greenback, two of the Federal Reserve's most hawkish policymakers to take up voting power this year said the central bank should bring its bond-buying programme to a swift close.
"Considering the demand for won by exporters has come in strong near the 1,065 level in the past, the won's retreat may start to take a toll near the 1,064-1065 range," a currency dealer said.
The benchmark Korea Composite Stock Price Index was up 0.4 percent at 1,953.27.
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