On the 14th, the won started in the 1,477 range against the U.S. dollar, rising more than 3 won.
According to the Seoul foreign exchange market, the won-dollar rate opened at 1,477.2 won, up 3.5 won from the previous day's weekly trading close (as of 3:30 p.m.). The rate has opened higher for 10 straight sessions since the 30th (+3.7 won; opening price 1,433.5 won).
Overnight, the yen weakened, lifting the dollar's relative value. Foreign media reported that Japan Prime Minister Sanae Takaichi conveyed to ruling Liberal Democratic Party leaders an intention to hold an early general election next month, widening political uncertainty.
According to Investing.com, the dollar-yen rate was in the 158-yen range around 3:30 p.m. the previous day, then kept rising and topped 159 yen at 2 a.m. As of 9:16 a.m. today, it was at 159.24 yen. This is the record high since July 2024.
The dollar index (DXY), which shows the dollar's value against the six major currencies including Japan, stood at 99.2, nearing the 100 baseline. When the dollar index is below 100, it means the dollar is weak against major currencies; above 100 indicates strength.
Analysts expect the intraday won-dollar rate to rise in tandem with the yen. Min Kyung-won, an economist at Woori Bank, said, "Considering that since 2022 the synchronization trend between the won and the yen has strengthened, a decline in the yen's value will lead to a decline in the won's value."
However, the economist said, "Many investment banks (IBs) note that authorities could roll out proactive foreign-exchange market stabilization steps as they did at the end of December," adding, "Heightened caution over potential fine-tuning by authorities will limit the upside in the exchange rate."