The South Korean won was declining earlier as the traders reacted to the yesterday’s speech by Ben Bernanke, which stated that the U.S. economical situation is still very uncertain. Hynix Semiconductor Inc. reported $870 million operating profit for the second quarter of 2010, 30.8 percent higher than in Q1. Despite the fact that the Korean stock market closed with a daily negative result, analysts express optimism in the currency and the stocks.
USD/KRW rose from 1203.40 to 1204.10 today after going as high as 1209.35 during the early trading session in Seoul.
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