US Treasury Yield Rise Drives Dollar Strength... Exchange Rate Starts at 1136.5 Won
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[Asia Economy Reporter Kim Eun-byeol] On the morning of the 15th, the won-dollar exchange rate started to rise slightly due to the strengthening of the dollar following the increase in U.S. Treasury yields.
At 9:10 a.m. in the Seoul foreign exchange market, the won-dollar exchange rate was trading at 1,136.8 won per dollar, up 3.0 won from the previous day. The rate started at 1,136.5 won per dollar, up 2.7 won, and fluctuated slightly in the mid-1,130 won range in the early session.
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The 10-year U.S. Treasury yield rose to around 1.62% amid expectations that the U.S. economic recovery will be faster than that of other countries. The U.S. Producer Price Index (PPI) for February increased by 2.8% year-on-year, slightly exceeding the forecast (+2.7%), and the University of Michigan Consumer Sentiment Index for March also significantly surpassed expectations at 83.0 compared to the forecast of 78.5.
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