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Won Weakens To Lowest Since October 2020


The won is weaker on Thursday, USD/KRW last up 0.50 at 1156.85, the pair earlier rose as high as1157.35, the highest since October 8.

  • On the coronavirus front South Korea reported 1,987 new cases in the past 24 hours, New cases fell back below 2,000, but the peak of the current wave of the pandemic has not yet come amid calls for tougher measures to bring virus infections under control and slow vaccinations. The pace of vaccinations is still slow with 16% of people now fully vaccinated.
  • Finance Minister Hong was on the wires earlier saying the potential economic fallout of the fourth wave of the pandemic will be "inevitable" starting in August amid concerns that the recent virus resurgence will likely slow the economic recovery.

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