Dollar-Won Trades in Mid-1,470 Range on New York Market

(Seoul=Yonhap Infomax) Won Jung – The dollar-won exchange rate traded in the mid-1,470 won range during the New York session.

As of 21:58 local time, the dollar-won rate stood at 1,474.00 won, up 6.10 won from the previous session.

Earlier in the day, the dollar-won closed regular trading at 1,475.60 won, up 7.70 won from the previous day, marking the highest closing level in seven months. The move was driven by a weaker yen and a stronger dollar globally.

Foreign investors sold more than 2.8 trillion won ($2.1 billion) in South Korea's main stock market, further pushing the dollar-won rate higher.

After the regular session, the rate briefly touched 1,477.90 won during the London and New York sessions.

However, comments from John Williams, President of the Federal Reserve Bank of New York, suggesting the possibility of further rate adjustments in the near term, helped stabilize the dollar-won rate in the mid-1,470 won range.

Later tonight, the U.S. November S&P Purchasing Managers' Index (PMI) and the University of Michigan Consumer Sentiment Index are scheduled for release.

Federal Reserve Board Governor Michael Barr, Vice Chair Philip Jefferson, and Dallas Fed President Lorie Logan are also set to deliver speeches.

The dollar index was recorded at 100.168.

At the same time, the dollar-yen rate was down 0.789 yen at 156.784 yen, while the euro-dollar rate slipped 0.00029 dollars to 1.15230 dollars. The offshore dollar-yuan rate was at 7.1108 yuan.

jwyoon2@yna.co.kr

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