On the 16th, the won-dollar exchange rate rose slightly and closed while monitoring the progress of the United States tariff negotiations.
On that day, the weekly closing price of the won-dollar exchange rate in the Seoul foreign exchange market (based on 3:30 p.m.) was recorded at 1,426.7 won, up 1.2 won from the previous day. The exchange rate closed in the 1,420 won range for the third consecutive trading day since the 14th (1,424.10 won).
The exchange rate started at 1,429.0 won, up 3.5 won from the previous day, and increased further, reaching 1,432.7 won around 9:04 a.m. However, it then reversed and dropped to the 1,420 won range by 10:05 a.m., and after falling to 1,423.6 won at 2:59 p.m., it rose again.
The exchange rate moved in line with the decline in the dollar's value. According to Investing.com, the dollar index (DXY), which indicates the value of the dollar against six major currencies, surpassed 100 in the morning but gradually fell, recording 99.55 as of 4:12 p.m.
It seems that the risk appetite has been revived as the United States began earnest tariff negotiations with major trading partners. The United States began tariff negotiations with the European Union (EU) the day before and is expected to continue discussions sequentially with South Korea, the United Kingdom, Australia, India, Japan, and others.
The market is focusing on the U.S. retail sales figures for March, which will be announced that night. If the retail sales figures exceed market expectations, it could stir optimism about the U.S. economic recovery and delay interest rate cuts by the Federal Reserve (Fed). This could induce a stronger dollar.
The won-yen exchange rate is 1,002.11 won per 100 yen. This is an increase of 5.12 won compared to the previous day's reference rate of 996.99 won at 3:30 p.m. The dollar-yen exchange rate decreased by 0.79 yen to 142.38 yen.