Due to Weakening Investment Sentiment, KRW-USD Exchange Rate Rises to 1160 Won Range
[Asia Economy Reporter Jang Sehee] On the morning of the 8th, the won-dollar exchange rate is on the rise.
As of 9:16 a.m. in the Seoul foreign exchange market, the won-dollar exchange rate is 1,163.4 won per dollar, up 5.6 won from the previous day.
In the international financial market, risk asset investment sentiment has weakened, fueling the dollar's strength.
Last week, the U.S. nonfarm payrolls data showed disappointing results, leading to expectations that the Federal Reserve's (Fed) tapering (reduction of asset purchases) would be delayed, resulting in a weaker dollar.
However, overnight, signals forecasting a stronger dollar have emerged, such as the rise in U.S. Treasury yields, leading to an increase in the exchange rate.
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At the same time, the won-yen recalculated exchange rate is 1,054.47 won per 100 yen, up 0.87 won from the previous day's 3:30 p.m. reference price (1,053.60 won).
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