Excerpt from: Forex
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| February 28, 2008 | | Asian currencies continue their advance in forex trading | Asian currencies are still doing well in forex trading today. The Korean won is among those leading the charge in currency trading on the FX market. Indeed, with worries over the US economy continuing to mount, dollar weakness is fueling gains in many Asian currencies. Bloomberg reports on the Korean won in currency trading:
``Worries about the fundamental strength of the U.S.
economy are driving the dollar's weakness, which is the biggest
single factor powering the won's gain,'' said Sam Hong, a
currency dealer with Shinhan Bank in Seoul. ``Month-end
exporters' deals will keep flowing in as well. Further won gains
are inevitable.''
The Korean won is used by some traders as a proxy for the Chinese yuan.
| Topic Tags: Asian currencies, Asian currencies forex trading, currency trading, dollar weakness, forex trading, FX market, Korean won currency trading, US economy | |
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