Korean won rises slightly against US dollar
The Korean won rose slightly against the U.S. dollar Tuesday, despite the broad strength in the U.S. currency amid lowered expectations about a rate hike by the Federal Reserve. The won was quoted at 1,343.6 won per dollar at 3:30 p.m., up 0.4 won from the close of the previous stock trading session. With the U.S. job market reporting a slower-than-expected growth in September, expectations were…
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 came despite the overall strength of the U.S. currency, which was influenced by lowered expectations of a Federal Reserve rate hike following a slower-than-anticipated growth in the U.S. job market in September.
The surge in U.S. Treasury yields, particularly the 10-year yield surpassing 5.34 percent, also contributed to the upward movement of the won. However, foreign investors sold a net 1.7 trillion won worth of local stocks, and the Korea Composite Stock Price Index fell 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.
This story
This is one outlet's version. Read the fullest account.
- Korean won rises slightly against US dollar koreatimes.co.kr
- S. Korean won rises slightly against U.S. dollar en.yna.co.kr
