Markets

South Korea won boosted to near 4 week high on Yellen, China data

Published February 12, 2014 Updated February 12, 2014 07:20am

1 min

By Shoaib Ur Rehman

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SEOUL: The South Korean won raced to its highest in nearly four weeks on Wednesday, boosted by upbeat export data from China and reassuring comments from new US Federal Reserve chief Janet Yellen during her first congressional testimony.

The local currency was quoted at 1,062.4 against the dollar at the end of onshore trade, up 0.8 percent from Tuesday's domestic close at 1,071.1.

The won jumped as high as 1,061.8 at midday, its strongest since Jan. 17. Wednesday's percentage gain was the sharpest since Jan. 29.

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