Korean won rises slightly against US dollar

The Korean won experienced a slight increase against the U.S. dollar on Tuesday, reaching 1,343.6 won per dollar, up 0.4 won from the previous session's close. This rise occurred despite the broader strength of the U.S. currency, as lowered expectations for a Federal Reserve rate hike contributed to the fluctuation. The decision was influenced by a slower-than-anticipated growth in the U.S. job market in September, which reduced the likelihood of an immediate Fed rate hike.

However, the focus remained on rising U.S. Treasury yields, with the 10-year yield surpassing 5.34 percent, the highest level since April 2002. Additionally, foreigners sold a net 1.7 trillion won worth of local stocks, leading the Korea Composite Stock Price Index to decline by 0.89 percent, closing at 6,941.39.

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.