South Korea's Won Declines on Speculation Central Bank to Sell Currency

(Bloomberg) -- South Korea's won dropped from near
the highest in more than a month on speculation the central bank
will sell the currency to keep exports competitive with Japan.

The won snapped two days of gains against the dollar and
fell for a third day versus the yen after the finance ministry
said yesterday the country and New Zealand are worried about the
yen's ``persistent weakness.'' Korea's Deputy Finance Minister
Kim Sung Jin last week said the government has the power and
capacity to act in the foreign-exchange market.


Read more at Bloomberg Currencies News