Korean Won Weakens, Heads for Longest Losing Streak Since 2008

The South Korean won weakened for a ninth straight day against the dollar, heading for its longest losing streak since 2008 as local investors continue to channel funds abroad.

The currency slipped as much as 0.5% to 1,475.00 per dollar, extending its decline to more than 2% from around 1,440 at the end of last year.