SEOUL: The South Korean won was little changed in early domestic trade on Tuesday, with investors taking a breather following the currency's strong gains a day earlier amid ongoing uncertainty about the US Federal Reserve's future policy.
The local currency was quoted at 1,114.6 against
the dollar as of 0215 GMT, compared with 1,113.8 at the end of onshore trade on Monday.
The dollar was supported by remarks by Dallas Fed President Richard Fisher overnight saying that the US central bank should start trimming its massive bond-buying stimulus in September in the absence of "some disturbing data."
But recent data from the US gave no clear signal on the strength of the country's recovery, creating uncertainty about when the Fed may start unwinding its quantitative easing.
Currency dealers said investors were also awaiting the rate decision from the Reserve Bank of Australia (RBA) for any movement in the Australian dollar, although the market appeared to have priced in a 25 basis-point so reaction to that news would be limited.
"I don't think the dollar long-stop has ended yet," one local bank dealer said.
The benchmark Korea Composite Stock Price Index was down 0.8 percent at 1,900.12.
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