Korean won slumps against U.S. dollar on expectations of Fed rate hike (opens original article in a new tab)

South Korean won slumps against U.S. dollar amid expectations of Fed rate hike, reaching its weakest level since June 8.

• South Korean won weakened against U.S. dollar on expectations of Fed rate hike
• Won opened at 1,539.4 won per dollar, down 2.4 won from previous session
• Won fell to 1,540.1 won per dollar, weakest level since June 8
• Global oil prices declined due to U.S.-Iran peace talks but won continued to slip