South Korea won rebounds over dovish FED comment

By Park Sae-jin Posted : February 4, 2016, 13:13 Updated : February 4, 2016, 13:13

[Courtesy of Bank of Korea]


The South Korean won rose sharply against the dollar Thursday after a top Federal Reserve official tempered expectations on the pace of future US interest rate increases.

The won was hovering around 1,200 per dollar around noon Korea time, sharply up from Wednesday's close of 1,219.3.

The US dollar tumbled after William Dudley, President of the Federal Reserve Bank of New York, said financial conditions were considerably tighter and a weakening outlook for the global economy would have to be taken into account when deciding the next timing and pace of raising rates.

"One thing I think we can say with more confidence is that financial conditions are considerably tighter than they were at the time of the December meeting," said Dudley, a permanent voter on the Federal Open Market Committee.


The Fed at its December meeting lifted its benchmark interest rate for the first time since 2006, and policymakers signaled that as many as four additional rate hikes were in the cards for 2016.

Alex Lee
아주경제 임장원 기자 = cwlim34@ajunews.com
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