S. Korean won weakens against US dollar on lingering worries over higher yields
The South Korean won weakened against the U.S. dollar Thursday, as worries linger over the persistent rise in U.S. Treasury yields. The won was quoted at 1,358.4 won per dollar at 3:30 p.m., down 5.6 won from the close of the previous stock trading session. The won's weakness came as expectations were lowered after data showed a key U.S. inflation gauge gained less than expected in August.…
The South Korean won experienced a weakening trend against the U.S. dollar on Thursday, amid ongoing concerns surrounding the persistent increase in U.S. Treasury yields. The currency was recorded at 1,358.4 won per dollar at 3:30 p.m., marking a decline of 5.6 won from the previous trading session's close. The currency's depreciation followed a reduction in expectations, following data revealing that a key U.S. inflation indicator experienced a lower-than-anticipated increase in August.
However, the 10-year U.S. Treasury yield surpassed 5.3 percent, marking its highest level in approximately 24 years. During the latest regular trading session, foreigners sold a net 547.3 billion won worth of local stocks, while the benchmark Korea Composite Stock Price Index rose by 1.95 percent, closing at 6,917.35.
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.
