The South Korean won edged higher on Thursday, reflecting increased appetite for risky assets on the back of market speculation that the European Central Bank may take steps to quell the eurozone's debt crisis. The dollar dipped against the South Korean won to 1149.3, down 0.2 percent from Wednesday's South Korean domestic close.
South Korean shares rose 1.1 percent to 1,950.26, supported by foreign investors' buying. The following reports below are from Reuters and IFR Markets. The dollar dipped 0.1 percent against the rupiah to 9,008 Its rise the previous day had stalled at 9,040, right near resistance at the 200-day moving average. Foreign banks were dollar sellers early, but ran into state bank bids.
The dollar rose 0.1 percent against the Singapore dollar to 1.3102, as short-covering set in after the dollar fell 0.9 percent against the Singapore dollar the previous day. The dollar rose to as high as 1.3145 earlier, after stops were taken out above 1.3130.
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