Dollar-Won Closes at 1,476.50 as Gains Narrow in Thin Trading

(New York=Yonhap Infomax) Jeong Ho Jin – The dollar-won exchange rate pared earlier gains in overnight trading but remained elevated in the mid-1,470 won range, continuing its upward trajectory.

At 02:00 KST on the 25th, the dollar-won rate closed at 1,476.50, up 0.90 won from the previous Seoul session close.

Compared to the closing price of 1,477.10 won during the main session (09:00–15:30), the rate was down 0.60 won.

While the dollar-won’s rise moderated slightly in New York trading, the pullback was not significant. With the Thanksgiving holiday approaching, subdued market activity and a flat dollar index led to limited movement in the pair.

During extended trading, the dollar-won briefly approached the 1,480 level, but market participants adjusted their pace. The previous high was 1,487.60 won, recorded on April 9.

Christopher Waller, a member of the Federal Reserve Board of Governors, signaled a dovish stance, indicating support for a rate cut in December. However, as Waller had previously expressed the need for a rate cut by year-end, the comments did not provide new impetus to the market.

Marc Chandler, Chief Market Strategist at Bannockburn Global Forex, said, “The probability of a rate cut next month has increased slightly today, but the impact on the dollar appears minimal. This remains an uncertain issue.”

As of 02:47 KST, the dollar-yen was trading at 156.871 yen, while the euro-dollar stood at 1.15180. The offshore dollar-yuan rate was at 7.1067 yuan.

The yen-won cross rate was 941.58 won per 100 yen, and the yuan-won rate was 207.84 won.

During the session, the dollar-won touched a high of 1,479.40 and a low of 1,468.60, with an intraday range of 10.80 won.

Total spot FX trading volume, combining Seoul Foreign Exchange Brokerage and Korea Money Brokerage, reached $10.643 billion through the overnight session.

jhjin@yna.co.kr

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