[Aju News DB]
The South Korean won rallied against the dollar for the third consecutive day Friday after China set the yuan's official midpoint rate against the dollar at its strongest level so far this year
The local currency opened weaker after European Central Bank (ECB) unleashed a bold easing package overnight, cutting rates and expanding asset buys, with its chief Mario Draghi suggesting there would be no further cuts.
But the won recouped early losses and strengthened against the dollar after The People's Bank of China (PBOC) set its official midpoint rate at 6.4905 per dollar, its strongest fixing in 2016.
The central bank's official guidance rate for the Chinese currency also strengthened 0.34 percent from Thursday's fixing of 6.5127, its biggest daily strengthening since Nov. 2 last year.
The South Korean won was traded at 11950 won per dollar at midday Friday, up nearly 0.8% from the previous day’s close.
By Alex Lee
아주경제 박세진 기자 = swatchsjp@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
