Korean Won Weakens as Economic Recovery Slows

The South Korean won slid today after the U.S. consumer sentiment slumped more than forecast, fueling doubts about the strength of the global economic recovery.

The MSCI Asia-Pacific Index of regional shares declined for a second day and the Standard & Poor’s 500 Index of the U.S. shares dropped to the lowest level in eight months. Most market participants expect that the forthcoming reports would show the slowdown of the U.S. and China’s economies.

USD/KRW traded at about 1,221.60 as of 10:04 GMT today after opening at 1,218.00.

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