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S Korean won cuts losses vs USD, traders suspect 'smoothing operations'

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The South Korean won slightly cut losses against the dollar in midday on Tuesday.

[SEOUL] The South Korean won slightly cut losses against the dollar in midday on Tuesday as several traders in Seoul suspected foreign exchange authorities were engaging in dollar-selling smoothing operations to curb the currency's fall.

The won erased some losses after touching 1,177.4 per dollar and was trading at 1,174.1 as of 0332 GMT.

REUTERS