Korean won weakens to 13-year level after Fed rate increase
South Korea’s currency weakened to a 13-year low against the U.S. dollar after the Federal Reserve’s interest-rate increase and projections spurred a risk-off mood in Asia. The dollar USDKRW, +1.12% rose to as high as 1,410.05 against the won during morning Asian trading, the highest intraday level since March 2009, according to FactSet. The dollar…