The South Korean won showed strength against the Japanese yen during early deals on Tuesday. At 11:35 pm ET, the won reached a high of 14.1725 against the yen, compared to Monday's closing value of 14.3005. On the upside, 13.7 is seen as the next target level for the South Korean currency.
The yen slumped today after a report showed that Japan's unemployment rate jumped to a 3-year high in February. The Ministry of Health, Labor and Welfare said that Japan's seasonally adjusted unemployment rate increased to 4.4% in February, slightly higher than forecasts for a 4.3 percent increase after the 4.1 percent gain in January.
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