South Korean currency hits six year high

South Korea’s local currency has hit an almost six year high, reaching 1,40.15 won to the US dollar after rising as high as 1,031.40 won at one point. The won has been buoyed by demand from exporters for settlements and stop-loss dollar selling from offshore funds, while local stocks were little changed.
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A currency trader walks past a screen showing the Korean won/USD exchange rate in a dealing room at the Korea Exchange Bank in Seoul on April 10, 2014. South Korea's local currency closed at 1,040.15 won to the US dollar after rising as high as 1,031.40 won at one point, the highest in almost six years. (AFP/Getty Images)
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SKorea-Japan-economy-trade-forex,FOCUS by Jung Hawon This photo taken on February 1, 2013 shows currency traders monitoring exchange rates in a dealing room at the Korea Exchange Bank in Seoul. A surging won and waning yen are eroding the bottom lines of South Korea's export powerhouses who are feeling the pinch after years of gobbling up global market share from their Japanese rivals. (AFP/Getty Images)
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Currency traders monitor exchange rates in a dealing room at the Korea Exchange Bank in Seoul on April 10, 2014. South Korea's local currency closed at 1,040.15 won to the US dollar after rising as high as 1,031.40 won at one point, the highest in almost six years. (AFP/Getty Images)
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SKorea-Japan-economy-trade-forex,FOCUS by Jung Hawon This photo taken on February 1, 2013 shows a bank employee holding South Korean won banknotes at the Korea Exchange Bank in Seoul. A surging won and waning yen are eroding the bottom lines of South Korea's export powerhouses who are feeling the pinch after years of gobbling up global market share from their Japanese rivals. (AFP/Getty Images)
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A currency trader monitors exchange rates in a dealing room at the Korea Exchange Bank in Seoul on April 10, 2014. South Korea's local currency closed at 1,040.15 won to the US dollar after rising as high as 1,031.40 won at one point, the highest in almost six years. (AFP/Getty Images)
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Currency traders monitor exchange rates in a dealing room at the Korea Exchange Bank in Seoul on April 10, 2014. South Korea's local currency closed at 1,040.15 won to the US dollar after rising as high as 1,031.40 won at one point, the highest in almost six years. (AFP/Getty Images)
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Currency traders monitor exchange rates in a dealing room at the Korea Exchange Bank in Seoul on April 10, 2014. South Korea's local currency closed at 1,040.15 won to the US dollar after rising as high as 1,031.40 won at one point, the highest in almost six years. (AFP/Getty Images)