SEOUL: The South Korean won slipped to its weakest in nearly four years against the US dollar on Monday morning, as a mixed US jobs report failed to offer much clarity on the timing of the Federal Reserve’s first rate hike in almost a decade.
The won was down 0.4 per cent at 1,198.5 per dollar as of 0210 GMT. It opened as low as 1,202.0 per dollar, the weakest intraday level since Oct. 4, 2011
Dealers suspected dollar-selling smoothing operations by foreign exchange authorities to curb the won’s sharp fall.
On Friday, data showed US job growth slowed in August, but the unemployment rate dropped to a near 7-1/2-year low and wages accelerated.
