SINGAPORE: South Korean won was up 0.48% on Tuesday in Asian trade as the finance minister dented expectations of a further interest rate cut, while most emerging Asian currencies gained as the dollar’s rally lost momentum.
Regional units held firm although risk sentiment stayed weaker on concerns over Greece potentially withdrawing from the euro.
The Malaysian ringgit, however, slid on growing pessimism amid worries about a possible downgrade in the country’s sovereign ratings and political uncert ..
The Malaysian ringgit, however, slid on growing pessimism amid worries about a possible downgrade in the country’s sovereign ratings and political uncertainties. Oil prices also fell again.
The won outperformed after Finance Minister Choi Kyung-hwan told Reuters that South Korea’s interest rate policy will stay put for a while as the local economy continues a solid recovery and inflation remains stable.
