Dollar-won 1,550Expected to open in the won range, keeping foreign exchange authorities on alert
8The dollar-won exchange rate on the day is 1,550expected to open above the won level. The government and related agencies are closely monitoring exchange-rate movements, as they did in 12month last year.
8The dollar-won exchange rate on the day is 1,550expected to open above the won level. The flow of domestic and external factors supporting the dollar-won's upward trend is continuing. Foreign exchange market participants are watching the exchange-rate movement that day.
Continued net selling of stocks by foreign investors is cited as a factor driving the dollar-won rate higher. Market observers say the strong-dollar trend has become pronounced. Some participants view supply-and-demand factors as the background to the exchange-rate rise.
The government and related agencies are closely monitoring exchange-rate movements, with the Blue House at the center. The government's vigilance is reportedly similar to the situation when high-intensity market-stabilization measures were introduced in 12month. It is being discussed that the authorities' monitoring could affect the market.
Reports indicate that a surprise improvement in the U.S. employment data supported the strong-dollar trend. As a result, foreign capital flows and exchange-rate volatility appear to be connected. Market participants are watching upcoming data and changes in supply and demand.
Some analyses reported that vigilance by foreign-exchange authorities could partially offset upward pressure. The current trend reflects the combined effects of factors driving the exchange rate higher and authorities’ monitoring. Measures by the authorities and capital flows have been identified as variables that could determine the market’s next direction.
Sources: 연합인포맥스
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