South Korean won falls prey to fund outflows

The won, which is susceptible to swings in global sentiment, has dropped almost 2% versus the US dollar since the start of the year. It is underperforming all its emerging Asian peers just as global growth bets are gaining traction.

SEOUL: At first glance, the weakness in South Korea’s won is an anomaly. Risk appetite is picking up but the currency is heading south.

The won, which is susceptible to swings in global sentiment, has dropped almost 2% versus the US dollar since the start of the year. It is underperforming all its emerging Asian peers just as global growth bets are gaining traction.