South Korea won hits nine-and-a-half high

The South Korean won touched a fresh nine-and-a-half year peak against the yen and its highest versus the dollar in almost two weeks on Tuesday, as won demand from exporters forced investors to clear dollar-long positions.
Market players remained cautious over potential dollar-buying intervention by South Korean authorities and foreign equity investors kept selling Seoul shares, limiting gains in the won.
The local currency was last quoted at 927.6/7.9 per dollar, after rising to a session high of 926.4, the strongest since 926.1 on June 7, compared to its previous closing bid of 928. The won also hit 7.4915 per yen, its strongest since 7.4522 on October 24, 1997.