Dollar-won 1,510breaks above the won mark · Impact of SK Hynix forward-dollar sales
The dollar-won exchange rate 9in the early hours of the day 1at 15minutes 1,512.10rose to the won level, surpassing 1,510won. In the previous Seoul session, it fell to 1,498.50won amid SK Hynix's forward-dollar sales and caution over the authorities, then rose again as geopolitical risks in the Middle East resurfaced.
The dollar-won exchange rate traded at 1,512.10won (9in the early hours of the day 1minutes). A sharp rise in international oil prices strengthened the dollar as investors avoided risk assets, while the won weakened.15International oil prices surged, strengthening the dollar as investors avoided risk assets and weakening the won.
8In the Seoul foreign exchange market, as of the afternoon 3minutes 30the dollar-won was trading at 1,498.50won. This was the first time since 5month 29day that it had fallen below 1,500won.
In the market, SK Hynix put forward-dollar selling volumes on offer, while expectations of an inflow of funds for the listing of its American depositary receipts were cited as a related supply-and-demand factor.
As of the morning, the New York closing rate was 1,515.80won. At one point that morning, it reached a high of 1,522.50won, while it opened at 1,516.50won.
In London trading, it pared its decline amid the impact of Trump's remarks and stood at around 1,511.90won (at 5p.m. 50minutes). Just before the close of the Seoul session, it fell to 1,499.70won before sliding to 1,498.10won.
Market participants watched for the possibility of smoothing operations (fine-tuning) by the foreign exchange authorities. Geopolitical issues stemming from the Middle East, including news overnight of a vessel being attacked near the Strait of Hormuz, increased exchange-rate volatility.
Sources: 연합인포맥스
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