Won-Dollar Exchange Rate Rises Early in Trading... Increased Risk Aversion Due to Geopolitical Risks (Update)
Fluctuations Around Mid-1310 Won Range
On the 15th, the won-dollar exchange rate showed an upward trend in the early trading session.
At 9:29 a.m. in the Seoul foreign exchange market, the won-dollar exchange rate was trading at 1,316.8 won, up 3.3 won from the previous trading day.
The exchange rate started trading at 1,313.5 won, the same as the previous day's closing price, and fluctuated in the mid-1,310 won range in the early session. This was due to increased risk aversion driven by geopolitical uncertainties, which exerted upward pressure.
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Over the weekend, geopolitical tensions in the Middle East escalated as the United States and the United Kingdom launched additional attacks on the Yemeni rebel group, the Houthi. In Taiwan's presidential election, Lai Ching-te, the pro-American and pro-independence candidate from the ruling Democratic Progressive Party (Minjindang), was elected president, raising concerns about worsening relations with China.
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