Won/dollar exchange rate starts to fall… Movement in the second half of 1,340 won

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On the 23rd, the won/dollar exchange rate is on a downward trend in the early hours of the market.

As of 9:13 am in the Seoul foreign exchange market on this day, the won against the dollar stood at 1,348.20 won, down 8.4 won from the previous day’s closing price.

The exchange rate opened at 1,351.0 won per dollar, down 5.6 won from the previous day’s closing price. Since then, it has given up the 1,350 line and continues to move in the second half of the 1,340 won range.

Concerns about the re-proliferation of China’s new coronavirus infection (Corona 19) and the burden of hawkish (preferring monetary tightening) remarks by key figures in the US Federal Reserve System (Fed) are partially relieved.

As high-ranking Fed officials made remarks emphasizing the need to adjust the pace of interest rate hikes, the risk-averse sentiment seems to have softened somewhat.

The New York stock market also closed higher overnight.

On the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average finished trading at 34,098.10, up 397.82 points (1.18%) from the battlefield.

The Standard & Poor’s (S&P) 500 index closed at 4,003.58, up 53.64 points (1.36%) from the battlefield, and the Nasdaq index closed at 11,174.41, up 149.90 points (1.36%).

The market is watching the minutes of the November Federal Open Market Committee (FOMC) meeting of the US Federal Reserve, which will be released the next morning.

Attention is focusing on whether the minutes will contain clues about the speed and scale of future interest rate hikes.

The next day, the Monetary Policy Committee of the Bank of Korea is also scheduled.

Moon Jeong-hee, a researcher at KB Kookmin Bank, said, “The US Fed’s November FOMC meeting minutes, which will be released at dawn on the 24th, are noteworthy.”

At the same time, the won/yen arbitrage exchange rate is 955.92 won per 100 yen. 0.21 won lower than the standard price (956.13 won) at 3:30 pm the previous day,

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