On the 26th, the won/dollar exchange rate is trending upward as expectations for a U.S. interest rate cut weaken.
According to the Seoul foreign exchange market, as of 9:10 a.m. on that day, the won/dollar exchange rate was trading at 1,389.4 won, up 4.7 won from the previous day's closing price of 3:30 p.m. It started the day at 1,391.0 won, up 6.3 won from the previous day, but the increase later moderated.
The movement in exchange rates was influenced by the strength of the dollar. The dollar index, which reflects the value of the dollar, recovered to 98, at 98.305. This is interpreted as the dollar recovering from its weakness due to expectations of a U.S. interest rate cut the day before.
A political variable that drew attention the day before was the South Korea-U.S. summit held in Washington, D.C., but it did not have a significant impact on the market.
Before the summit, U.S. President Donald Trump stirred controversy by posting a provocative message on social media (SNS), saying, "It seems like a purge or revolution is happening in Korea," but the summit itself concluded without any unexpected developments.
After his meeting with President Lee Jae-myung, President Trump noted, "We decided to maintain the trade agreement we reached last month."
Meanwhile, at the same time, the won/yen exchange rate was 942.45 won per 100 yen, down 0.4 won from the previous day's reference rate of 940.85 won at 3:30 p.m. The yen/dollar exchange rate recorded a decline of 0.32 yen, reaching 147.47 yen.