South Korea won falls after the Expected Bok Rate Decision

Seoul (DPA-AFX)-South Korea’s cattle was weakened against the US dollar in the Asian session on Tuesday, after the Korean bank reduced its reference rate in a quarterfinal as national policies as national political policies and the commercial policies of the United States government weighed internal demand and economic growth.

The Monetary Policy Board, governed by Rhee Chang Yong, decided to reduce the base rate by 25 basic points to 2.75 percent.

The decision coincided with expectations. This was the third reduction in the last four meetings.

The Central Bank said the internal political situation, the effects of past rates reduce inflation, economic growth and financial stability will determine the moment and rhythm of any additional rate cut.

Against the US dollar, the WON fell to 1433.54 from an early maximum of 1428.13. At the end of yesterday, WAN was traded at 1429.65 against the backback.

If the WAN extends its bearish trend, it is likely to find support around the region of 1500.00.

Looking towards the future, Canada’s manufacturing sales data for January, the US Redbook report, the US housing price index. UU. For December, the consumer confidence of the US consumer board. UU. For February and the US Richmond manufacturing index. For February they are scheduled for release.

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