The South Korean won tumbled against the U.S. dollar Thursday morning and bond yields dropped to record lows as the country's central bank unexpectedly slashed its policy rate to an all-time low.
The local currency was quoted at 1,129.70 per dollar as of 10:24 a.m., down 3.20 won from the previous session's close, falling for a fourth consecutive day. The won dipped to as low as 1,136.40 won at one point.