"Won-Dollar Starts Lower... Further Decline Expected to Be Limited"

On the 14th, an employee is organizing dollars at the Hana Bank Counterfeit Response Center in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

On the 28th, the won-dollar exchange rate is expected to start lower in the foreign exchange market.

Yumi Kim, a researcher at Kiwoom Securities, stated, "The 1-month dollar-won NDF (Non-Deliverable Forward) rate in the New York market is expected to start down 8 won at 1,296.3 won," adding, "Ahead of this week's events, momentum is weakening, so further declines are expected to be limited."

Researcher Kim analyzed, "The dollar showed a limited weakening trend as U.S. Treasury yields fell amid continued weakness in housing indicators."

U.S. new home sales in October fell 5.6% compared to the previous month, missing both the prior month's figure and market expectations. Researcher Kim explained, "Due to weak housing indicators, there is some speculation about the Federal Reserve possibly cutting interest rates, which has led to a decline in U.S. Treasury yields and a weaker dollar."

Meanwhile, the pound rose against the dollar as the November manufacturing PMI was released better than expected, and the yen also rose slightly due to a narrowing of the U.S.-Japan interest rate differential following the decline in U.S. Treasury yields.

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