Seoul: Won, stocks edge down ahead of Fed policy meeting

[SEOUL] The South Korean won snapped a three-session winning streak on Tuesday as investors trimmed their exposure to the currency ahead of the outcome of the US Federal Reserve's policy meeting later this week.

The Bank of Japan decided to hold its policy steady earlier in the session and offered a bleaker economic view, but the widely-expected decision had little impact on local markets.

The won was quoted at 1,187.7 to the US dollar at the conclusion of onshore trade, down 0.1 per cent compared to Monday's close of 1,186.1.

South Korean shares edged lower after rising over the past four days.

The Korea Composite Stock Price Index (KOSPI) closed down 0.1 per cent at 1,969.95 points.

REUTERS