Korean won hits 14-month high against US dollar as Japan's yen strengthens
The Korean won climbed to a near 14-month high against the U.S. dollar Thursday, as the strength of the Japanese yen weighed on the dollar. The won was quoted at 1,359.3 won per dollar at 3:30 p.m., up 9.4 won from the close of the previous stock trading session. It marked the first time since July 3 last year that the won strengthened past the level of 1,360 per dollar. At one point in morning…
The Korean won reached a near 14-month high against the US dollar on Thursday, driven by the strength of the Japanese yen, which in turn pressured the dollar. The exchange rate reached 1,359.3 won per dollar at 3:30 p.m., marking the first time since July 3, 2022, that the won surpassed the 1,360 mark per dollar. This upward trend was fueled by market expectations of potential intervention by Japan's financial authorities to support the yen, which reached its highest level since August 7.
Furthermore, local exporters continued to sell dollars as the US currency remained weak ahead of a US employment report.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
