Wednesday, April 25, 2007

Asian Currencies: Korean Won Weakens on Wider Deficit, Taiwan Dollar Drops

(Bloomberg) -- South Korea's won fell from a three-month high after a central bank report showed the current account deficit at its widest in 11 months.

The growing deficit means more money is flowing out of South Korea, weighing on the local currency. The won also weakened after a chart some traders use to predict future price movements showed the currency's appreciation may stall.


Read more at Bloomberg Currencies News

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