The South Korean won ticked up against the US dollar in early Asian trading on Friday. At 6:45 pm ET, the won climbed to a 1-year high of 1164.20 versus the greenback, compared to yesterday's closing value of 1164.60.

The South Korean central bank is scheduled to announce its decision on interest rates on Friday, headlining a light day for Asian economic news. Most analysts expect the bank to keep rates on hold at the current record low 2 percent - although some believe the Bank of Korea will hike rates after Australia's became the first central bank to raise rates earlier this week, signaling the end of the global recession.

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