South-Korean Won Jumps To New Multi-week High Against Yen

The South-Korean won jumped to a new multi-week high against its Japanese counterpart during Monday's early Asian trading. The won advanced against the dollar too.

On the equity front, the South Korean stock market is trading modestly higher today amid stock-specific buying. Steel, oil and shipbuilding stocks are among the prominent gainers, while technology and automobile stocks are trading mixed.

The benchmark KOSPI index, which rose to 1,709.3 in early trades, is currently up with a gain of 2.5 points at 1,702.3.

Monday in Asia, the South Korean won soared against its Japanese counterpart. The won reached a new multi-week high of 13.1780 against the Japanese unit, compared to 13.1910 hit late Friday in New York. On the upside, the next likely target is seen around the 13.12 level.

After a brief slide, the South Korean won gained against the dollar in early Asian deals on Monday. The pair moved from 1208.0 to 1205.65 at 8:05 pm ET. If the Korean currency climbs further, it may likely target the 1204.1 level. At Friday's close, the dollar-won pair was quoted at 1206.20.

From U.S., August leading indicators reports is slated for release at 10:00 am ET.

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