South Korea’s won climbed to a four- month high after better-than-estimated data on U.S. jobs and Chinese exports boosted confidence in the growth of the world’s two largest economies. Government bonds were steady.
South Korea’s won is set to advance for the fifth straight month, the longest rally since 2007, on optimism the nation will attract foreign funds as the economy heads for the fastest growth since 2010. Government bonds fell.
The Bank of Korea kept its benchmark interest rate unchanged for a fifth month, seeking to bolster a rebound that the International Monetary Fund said this week will be slower than previously forecast.
South Korean inflation rose to a two-year high in February, breaching the central bank’s 4 percent ceiling for a second month and bolstering the case for an interest rate increase as early as next week.