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 has reached a 14-month high against the US dollar, buoyed by the strengthening of the Japanese yen, according to The Korea Times. The currency was quoted at 1,359.3 won per dollar at 3:30 p.m., marking its first instance of surpassing the 1,360 mark since July 3, 2022. The upward trend was attributed to market expectations of potential Japanese financial intervention to support the yen, which had reached its highest level since August 7.
Additionally, local exporters continued to sell dollars as the US currency remained weak ahead of a U.S. 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.
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