S. Korean won hits 14-month high against U.S. dollar as Japan's yen strengthens
SEOUL, Sept. 3 (Yonhap) -- The South Korean won climbed to a near 14-month high ...
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.
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