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Won/dollar exchange rate, expected to start at 1225 won… Further increase will be limited

Kiwoom Securities predicted that the won/dollar exchange rate would open at 1225.75 won on the 28th, up 6 won from the previous trading day. However, the explanation is that the further rise will be limited. Photo = Seoul Wire DB

[서울와이어 유호석 기자] The won/dollar exchange rate is expected to start at 1225 won.

On the 28th, Kim Yu-mi, a researcher at Kiwoom Securities, said, “The dollar/won exchange rate for one-month NDF is expected to rise by 6 won to 1225.75 won. said.

The dollar index, which reflects the value of the dollar against six major currencies, recorded 98.799 on the 25th (local time), up 0.03% from 98.774. On a weekly basis, it rose 0.60%. While the New York stock market was mixed, the Fed’s hawkish attitude is believed to be the result.

In the New York Stock Exchange last week, the Dow Jones Industrial Average rose 0.31% from the previous week. The Nasdaq Composite and the S&P 500 also rose 1.98% and 1.79%, respectively.

For a week, hawkish remarks by Federal Reserve members limited the dollar’s fall along with higher Treasury yields. As a result, the overall risk-assessment sentiment weakened. The New York Stock Exchange continued to rise and fall on fears of austerity, but succeeded in an upward trend.

U.S. Treasury yields soared last weekend. The yield on the 2-year bond rose 13.09 basis points to 2.270%, up 13.09 basis points from the previous day, and the 10-year bond rose 10.13 basis points to 2.473%. It is believed that the sharp rise came amid concerns that the US Federal Reserve would raise interest rates by 50 basis points several times within the year.

International oil prices rose. On the New York Mercantile Exchange (NYMEX), the price of West Texas Intermediate (WTI) for May contract ended at $113.90 per barrel last weekend, up $1.56 (1.39%) from the previous week.

Saudi Arabia’s state-owned oil company Aramco’s petroleum product distribution facility was attacked, which caused fires in two oil storage tanks.

Gold prices fell. On the New York Mercantile Exchange (COMEX), April gold futures closed at $1954.20 an ounce, down $8.00 (0.4%) from the previous day. This is due to the rise in U.S. Treasury yields.