Won rises for 4th day as stocks gain

SEOUL, Dec. 18 (Yonhap) -- South Korea's currency advanced against the U.S.
dollar for a fourth consecutive day on expectations that foreign investors may
buy more local stocks, following a historic rate cut by the U.S. Federal Reserve.

The won was trading at 1,307.00 won versus the dollar as of 9:18 a.m., up 18 won
from the previous session's close, according to Seoul Money Brokerage Services
Ltd.
"The unprecedented rate cut by the U.S. Federal Reserve continues to affect the
currency market," a trader said, "Today will be the day it tests the
1,300-level."
The Federal Reserve cut its benchmark rate to as low as zero on Tuesday,
underscoring worsening conditions in the U.S. economy.
The won, one of world's worst-performing major currencies, has shown signs of
stabilization recently, and touched a six-week high on Wednesday.
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