South Korean currency Won has been volatile as it hit five-year low and recovered marginally. Won was tracking to Chinese currency Yuan as the dragon country is the major foreign market for South Korea. China's GDP rose 6.8 percent during fourth quarter marginally lower than the forecast of 6.9 percent. This disappointed the market.
Chinese Currency
Breaking News
Some $46.5 billion treasuries have been reported to liquidate during the first two weeks of the New Year. The present reserve for $2.962 trillion appears to be the lowest since November. China has been reportedly withdrawing funds and injecting to the market to keep hold its currency in place. Considering its financial reserve, it is widely believed that further outflow of US treasuries, possibly with greater vicinity will take place in the coming months.
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