Won Hits 14-Month High as Yen Strengthens Against Dollar

The South Korean won reached a near 14-month high against the U.S. dollar on Thursday, as the strength of Japan's yen weighed on the dollar.

The won was quoted at 1,359.3 per dollar at 3:30 p.m., up 9.4 from the close of the previous stock trading session.

This marked the first time since July 3 last year that the won strengthened past the level of 1,360 per dollar.

The won's advance came amid market expectations that Japan's financial authorities may intervene to support the yen, which increased to its highest level since Aug. 7.