On the 5th, in the Seoul foreign exchange market, the won-dollar exchange rate started transactions at 1,474.7 won, up 1.2 won from the previous day. Based on the opening price, it is the highest level since the 25th of last month.
As some U.S. employment indicators improved, assessments that the Federal Reserve (Fed) has less need to cut interest rates acted as a factor pushing the exchange rate higher. As concerns about an economic slowdown eased and the view gained ground that the Fed could push back the timing of a rate cut, the dollar strengthened, leading to early-session weakness in the won, analysts said.
The U.S. Labor Department said the previous day (local time) that initial jobless claims for last week (Nov. 23–29) were 191,000, down 27,000 from the previous week. That is the lowest number of claims in 3 years and 2 months since September 2022.