South Korean Won Slumps To 12-Day Low Against Yen

Monday during early deals, the South Korean won tumbled to 12-day against the yen as a slump in South Korean stocks decreased demand for the local currency. The won dropped against the US dollar too.

The South Korean stock market is trading weak on Monday with the negative close on Wall Street on Friday amid some disappointing economic data hurting sentiment to a notable extent.

With stocks cutting across various sectors trading weak, the benchmark KOSPI index is currently down 15.5 points, or 0.92%, at 1,676. On Friday, the KOSPI had ended down 2.4 points, or 0.16% at 1,691.48.

During early Asian deals on Monday, the South Korean won edged down to 1197.90 against the US dollar. This may be compared to Friday's close of 1186.00. On the downside, 1201.80 is seen as the next target level for the Korean currency.

From US, the Chicago Fed national activity index and Dallas Fed manufacturing index reports-both for the month of September are expected in the New York session.

Monday during Asian deals, the South Korean won declined against its Japanese counterpart. The won touched a 12-day low of 13.410 against the Japanese unit, compared to 13.2310 hit late Friday in New York. On the downside, the next likely target is seen around the 13.47 level.

Yen vs KRW (FX:JPYKRW)
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