(Bloomberg) -- South Korea's won was little changed amid speculation the Bank of Korea will sell it to help exports as the currency traded near the highest this year. Local government bonds were steady.
The currency's 0.7 percent gain this month stalled after a report showed Korea's department store sales dropped for the first time in three months in April and separate figures showed the jobless rate rose, suggesting the central bank needs to prop up exports to support economic growth. Deputy Bank of Korea Governor Rhee Gwang Ju said the currency is highly overvalued, Reuters reported yesterday.
Read more at Bloomberg Currencies News
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