Dollar Hits One-Month High... Strengthened by Remarks from US Federal Reserve Officials

On the 19th, the won-dollar exchange rate started at 1,326.0 won, up 5.3 won from the previous trading day (1,320.7 won), at the Hana Bank dealing room in Jung-gu, Seoul. On the same day, the KOSPI opened at 2,510.72, up 2.67 points (0.11%) from the previous trading day. Photo by Hyunmin Kim kimhyun81@

The value of the US dollar recently reached its highest level in a month against major currencies. This appears to be influenced by remarks from officials of the US Federal Reserve (Fed) regarding interest rate hikes.

According to major foreign media on the 19th, the dollar index, which shows the value of the dollar compared to major currencies, rose to 107.86, marking the highest point since July 18. The weekly increase rate of the dollar index this week was 1.89%, the highest since June 12.

By currency, the dollar rose to 136.38 yen against the Japanese yen for the first time since July 28. The dollar's value against the euro reached $1.00735 per euro, showing the strongest level since July 15.

Against the British pound, it reached $1.1905 per pound, the highest since July 21.

The won/dollar exchange rate rose to 1,328.8 won during trading in the Seoul foreign exchange market, setting a new high. This means the dollar's value against the Korean won reached its highest level this year.

Earlier, on the previous day, James Bullard, President of the Federal Reserve Bank of St. Louis, stated in an interview with the Wall Street Journal (WSJ) that he is leaning toward supporting a 0.75 percentage point increase at the September monetary policy meeting.

Mary Daly, President of the Federal Reserve Bank of San Francisco, described a 0.5 or 0.75 percentage point increase in September as "reasonable."

Esther George, President of the Federal Reserve Bank of Kansas City, said that the monetary tightening policy will not stop until she is "completely confident" that the overheated inflation is easing.

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