Korean Won Jumps 30.2 Against Dollar to 1,525.6 as Weak US Jobs Data Cools Fed Hike Bets
Updated
Updated · 코리아타임스 · Jul 3
Korean Won Jumps 30.2 Against Dollar to 1,525.6 as Weak US Jobs Data Cools Fed Hike Bets
3 articles · Updated · 코리아타임스 · Jul 3
Summary
1,525.6 won per dollar marked the currency’s strongest level since June 17, after it gained 30.2 won from the previous session and strengthened further from a 1,544.5 opening.
Weaker-than-expected U.S. employment data dulled expectations of a near-term Federal Reserve rate hike, easing pressure that had kept the won under sustained strain against the dollar.
A firmer Japanese yen also supported the won, analysts said, adding momentum to Friday’s rebound.
2.2 trillion won in net foreign stock selling did not stop the Kospi from surging nearly 6% to 8,088.34, underscoring broader market volatility around shifting U.S. rate expectations.