Markets

South Korean won extends gain, up more than 1pc

Published December 16, 2014 Updated December 16, 2014 05:55am

1 min

By Shoaib Ur Rehman

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SEOUL: The South Korean won gained more than 1 percent to touch a 5-week high on Tuesday afternoon, as the dollar was beaten back by a safe-haven rally in the yen and wariness ahead of the Federal Reserve policy meeting starting later in the day.

The won was quoted at 1,087.7 to the dollar as of 0208 GMT, compared to Monday's closing rate of 1,099.1.

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