Won leaps past 1,300 won mark after Fitch downgrades U.S.
The won surpassed the 1,300 won mark during intraday trading on Thursday, weakening against the dollar following Fitch Ratings' downgrade of the U.S. credit rating Tuesday.
The currency hit 1,302.5, up from Wednesday's 1,298.50, the first time it broke 1,300 since July 10.
The weak won followed the historic U.S. credit rating downgrade by Fitch on Tuesday from the highest AAA to AA+, with the ratings agency citing “a steady deterioration in standards of governance.”
BY JIN MIN-JI [jin.minji@joongang.co.kr]
with the Korea JoongAng Daily
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