Forex
Won Hits 13-Month High Ahead of Jackson Hole Policy Symposium
The Korean won has reached its strongest level against the US dollar in over a year. On Friday, it stood at 1,372.5 won per dollar, marking an 8.4 won gain from the previous session.
This is the highest point for the won since July 24 last year when it was trading at 1,367.2 per dollar.
The won's advance can be attributed to exporters selling dollars ahead of the Jackson Hole policy symposium, where Federal Reserve Chair Kevin Warsh will deliver a speech amid growing concerns about US fiscal debts.