SEOUL: The South Korean won fell against the dollar on Wednesday in reaction to a cautious mood after Greece became the first developed economy to default on a loan with the International Monetary Fund.
The South Korean won was down 0.4 percent at 1,120.0 per dollar as of 0232 GMT from the previous close at 1,115.5.
Analysts said the won’s decline would be limited by local exporters’ demand for month-end settlements.
“Demand from domestic exporters continued around 1,120 level,” said Yuna Park, a foreign-exchange analyst at Dongbu Securities.
Besides the Greece saga, investors were also keeping an eye on key U.S. jobs data later this week. A Reuters poll forecast payroll gains of 230,000. “Market expects the data will be strong,” Park said.
