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Korean won rises to strongest in nearly 6 years

Updated: 2014-07-03 03:55:19 (KST)
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The Korean won hit its highest level against the U.S. dollar in close to six years on Wednesday.
The won breached the 1,010 won level and closed at 1,nine.two won against the greenback.
Analysts attribute the won's appreciation to upbeat economic data out of the United States and China, which drove stocks on Wall Street to all-time highs, giving investors the confidence to take risks.
Seoul-based Nonghyup Investment and Futures, for one, said the Korean won could further strengthen to the 1-thousand level.
However, Goldman Sachs expects the strong won to go down to the 1,30-won level in the second half of the year betting on the slowdown of the Korean economy.


Reporter : connie1223@arirang.co.kr

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