South Korean Won Jumps 0.7% to 1,486.20 on SK Hynix ADR Inflow Bets
Updated
Updated · Bloomberg · Jul 14
South Korean Won Jumps 0.7% to 1,486.20 on SK Hynix ADR Inflow Bets
3 articles · Updated · Bloomberg · Jul 14
Summary
1,486.20 per dollar marked the won’s strongest level since May 12 after it climbed as much as 0.7% in Tuesday trading.
SK Hynix drove the move, with traders expecting dollar inflows tied to its American depositary receipts to be converted into won in the local market.
That rally made the won Asia’s best-performing currency on Tuesday, underscoring how a single anticipated corporate-related flow can sway regional FX trading.