Forex Trading Strategy: South Korean Won

Won gains in FX tradingForex trading strategy for the South Korean won, along with other emerging market currencies in Asia, should consider that things are looking up. The won is gaining in FX trading on the news of the Fannie and Freddie bailout.

Right now, dollar sales in Asian emerging markets are on the rise as investors turn to local currencies. Bloomberg reports on the forex trading help such currencies as the South Korean won are receiving:

“Dollar sales increased after the bailout news of Fannie and Freddie,” said Sam Hong, a currency dealer with Shinhan Bank in Seoul. “With the talk of a crisis cooling off, banks are shedding their dollar holdings en masse,” he said, referring to concern that Asia’s fourth-largest economy was headed for a repeat of 1997.

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