Won–dollar plunges to the won level on Trump remarks1,500SK Hynix ADR also a factor
The won’s value per dollar fell to the won level8during intraday trading amid Trump’s remarks and concerns over the war in the Middle East, falling again to the won level. Just beforehand, it had1,500recovered to the won level40in days, and SK Hynix’s move to pursue a U.S. depositary receipt listing and discussions between the South Korean and Japanese foreign exchange authorities affected the foreign exchange market.1,400The won’s value per dollar fell to the won level
![Won–dollar plunges to the won level on Trump remarks1,500SK Hynix ADR also a factor/blog-images/gen-8324dd45-a50a-4c3b-90af-9b2f24467f9f.jpg)
The won’s value per dollar8plunged to the won level during intraday trading as Trump’s remarks and the heightened risk of war in the Middle East1,500increased foreign exchange market volatility. This was a scene that stimulated investors’ demand for dollars.
Just beforehand, it40in days1,400had shown a recovery to the won level, but gave up most of its gains. The won’s recovery was reversed in a short period.
The renewed prominence of the risk of war in the Middle East also put upward pressure on the exchange rate. Demand for safe-haven assets increased amid geopolitical uncertainty.
SK hynix is pursuing a listing of American Depositary Receipts (ADRs) in the United States. This news had an additional impact on the won and foreign exchange markets.
Reports also indicated circumstances suggesting that relevant discussions took place between the foreign exchange authorities of South Korea and Japan. The way communication between the authorities reached the market drew attention.
In the stock market, an expansion in intraday trading value and volatility was observed. Movements in the foreign exchange market and stock-price trends fluctuated simultaneously and across multiple areas.
Market participants reportedly reacted immediately to the news and began buying dollars. The day's market showed sensitivity to the flow of news.
Sources: 매일경제 경제
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