NDF Falls to 1,472.60/1,473.00 Won, Down 2.15 Won

(Seoul=Yonhap Infomax) Ji Yeon Kim – The one-month dollar-won non-deliverable forward (NDF) contract declined in the New York market.

According to overseas brokers on the 25th, the one-month dollar-won NDF was last quoted at 1,472.80 won (mid) overnight.

Taking into account the latest one-month swap point of -2.15 won, this represents a decrease of 2.15 won from the previous session’s closing spot price in the Seoul foreign exchange market (1,477.10 won).

The bid was quoted at 1,472.60 won and the ask at 1,473.00 won.

The US dollar remained firm overall.

With the US Thanksgiving holiday three days away, market expectations for a Federal Reserve rate cut persisted, keeping the dollar in a narrow trading range.

Overnight, Federal Reserve Governor Christopher Waller, in an interview with major foreign media, highlighted labor market deterioration and expressed support for a rate cut in December.

On the same day, Mary Daly, President of the Federal Reserve Bank of San Francisco, also raised the possibility of a sharp labor market downturn, lending further support to a December rate cut.

Meanwhile, former US President Donald Trump stated on his social media that he had a "very good call" with Chinese President Xi Jinping, discussing a range of topics including the Ukraine-Russia situation, fentanyl issues, soybeans, and other agricultural products.

Near the close, the US Dollar Index edged up to 100.181.

The dollar-yen rate stood at 156.823 yen, while the euro-dollar rate was 1.15221 dollars.

The dollar-offshore yuan (CNH) rate was 7.1045 yuan.

jykim2@yna.co.kr

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