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Seoul: Won higher on weaker US dollar; joint military exercise eyed

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The South Korean won inched up on Monday as the US dollar weakened on worries over US politics and investors scrutinised the United States' and Seoul's largely computer-based joint military exercise.

[SEOUL] The South Korean won inched up on Monday as the US dollar weakened on worries over US politics and investors scrutinised the United States' and Seoul's largely computer-based joint military exercise.

The military simulation was carried out against a backdrop of heightened tensions over North Korea's missile and nuclear programmes.

The won was quoted at 1,139.0 to the US dollar at the conclusion of onshore trade, up 0.2 per cent compared to Friday's close of 1,141.3.

South Korean shares edged lower as investor sentiment cooled on concerns about President Donald Trump's ability to push through his economic agenda.

The Korea Composite Stock Price Index (Kospi) closed down 0.1 per cent at 2,355.00 points.

Offshore investors unloaded a net 20.5 billion won (S$24.5 million) worth of Kospi shares.

REUTERS

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