On the 11th, the won-dollar exchange rate rose by over 7 won due to concerns over a U.S. recession, surpassing 1460 won during the trading session. The won-yen exchange rate also exceeded 990 won, approaching 1000 won for the first time since April 2023.
According to the Seoul foreign exchange market on the 11th, the won-dollar exchange rate opened at 1459.1 won, an increase of 6.8 won from the previous trading day's weekly closing price (as of 3:30 p.m.). This is the first time since the 5th (1454 won) that the opening rate exceeded 1450 won in four trading days. The exchange rate continued to rise, breaking through 1460 won during the session, and as of 10:33 a.m., it had decreased to 1458.4 won.
U.S. President Donald Trump noted that despite concerns over a recession, he would push forward with high-intensity tariff policies, which fueled the strength of the dollar. In an interview aired on Fox News on the 9th (local time), when asked if he expected a recession this year, Trump said, "I don't like to predict those things," adding, "What we are doing is a big effort to bring wealth back to the U.S., and it takes a little time."
Domestic political uncertainty also played a role in the rise of the exchange rate. According to the legal community, there is a high likelihood that the Constitutional Court's ruling regarding President Yoon Suk Yeol's impeachment trial will be delivered on the 14th of this month. In the past two presidential impeachment trials (Roh Moo-hyun and Park Geun-hye), decisions were announced on Fridays, about two weeks after the closure of arguments.
Wi Jae-hyun, an economist at NH Futures, stated, "Today, the won-dollar exchange rate is expected to attempt to break through 1460 won," adding, "Foreign funds are exiting from the domestic stock market, and the preference for safe assets may induce dollar buying both domestically and abroad, further expanding the rise in the exchange rate."
Meanwhile, as of 10:48 a.m., the won-yen exchange rate is trading at 992.51 won per 100 yen. The won-yen exchange rate opened at 992.32 won that day, soared to around 994.75 won at about 10:07 a.m., and then fell again. The won-yen exchange rate exceeding 990 won is the first time since April 27, 2023 (1000.2 won).