Dollar-won exchange rate 1,600challenge, 2009year high 1,597.00near
The dollar-won exchange rate 2009year high 1,597.00approaching 1,600won level. This week (8~12net foreign selling of stocks and 6month 10the US 5monthly consumer price index to be announced on month day are expected to determine the direction of the exchange rate.
This week (8~12day), the Seoul foreign exchange market is drawing attention due to net foreign selling of stocks and the impact of the US 5monthly price index. The US 5monthly price index will be released on 6month 10day. Market participants view this indicator as an important variable.
Based on the Seoul market closing price, the dollar-won exchange rate exceeded 15on 1,500won last month. Since then, the exchange rate has moved without a clear change in direction.
In overnight trading on 5day, the dollar-won exchange rate rose to 1,561.50won in response to strong US employment data. This rise was immediately reflected in the foreign exchange market.
Compared with the low a month ago, the exchange rate is 100more than won higher. Persistent upward pressure remains in the recent exchange-rate trend.
The market is seeing moves to surpass 2009the peak recorded during the global financial crisis of 1,597.00won and test the 1,600won level. 1,600Won is 1998a psychological figure that has drawn attention since the foreign exchange crisis of .
It has been repeatedly noted that foreign investors have continued to be net sellers of stocks in the recent trend. The U.S. 5consumer price index and changes in foreign-investor flows are being cited as key variables that will determine the exchange rate's short-term direction.
Sources: 연합인포맥스
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