Trump's Lead in Florida Causes Currency Fluctuations... Won Temporarily Surpasses 1140

[Image source=Yonhap News]

[Asia Economy Reporter Kim Eun-byeol] On the 4th, the won-dollar exchange rate, which started on a downward trend, is fluctuating significantly depending on the developments in the U.S. presidential election.

At the Seoul foreign exchange market on this day, the won-dollar exchange rate was trading at 1,137.81 won, up 0.31% as of 12:41 PM.

The exchange rate started the day down 5.8 won from the previous day's closing price. This was due to high expectations for a 'Blue Wave,' where Democratic candidate Joe Biden would win the U.S. presidential election and the Democrats would take control of Congress. However, as exit poll results and vote counts were reported one after another and the voting showed a close race, the sentiment changed.

The exchange rate quickly rose from the early session, recovering the losses, and around 11:35 AM it surpassed 1,140 won per dollar and reversed direction. At one point, it surged to 1,148 won, 19.7 won higher than the opening price, before giving back some of the gains.

U.S. President Donald Trump is leading in Florida (29 electoral votes), a key battleground state. There was an assessment that if Biden wins Florida, the presidential election result could be decided early, but now the focus has shifted to watching the trends in other battleground states.

The exchange rate is expected to show volatility in the afternoon as well, depending on the progress of the U.S. presidential election vote count.

This content was produced with the assistance of AI translation services.