The won-dollar exchange rate closed at 1,481.2 won on the 14th against the U.S. dollar. It fell 8.1 won from the previous day.
The won-dollar exchange rate appears to have fallen as the possibility emerged that the United States and Iran could hold a second face-to-face negotiation. If the two countries agree to a cease-fire through talks, market demand to invest in risk assets increases. In that case, the value of the won, which is not a key currency, tends to rise.
U.S. President Donald Trump met with reporters at the White House on the 13th local time and said, "We have heard from the other side (Iran), and they (Iran) want a deal very badly." He added, "We are going to get that dust (enriched uranium held by Iran) back," and, "We are either going to get it back from them or we are going to take it." The remarks underscored the principle that Iran must not have nuclear weapons.
On the same day, Reuters and CNN reported that the United States and Iran have continued talking even after cease-fire talks broke down on the 11th. According to the reports, the two countries are trying behind the scenes to reach a deal. For this reason, some observers say the United States and Iran may return to face-to-face negotiations.
Park Sang-hyun, a researcher at iM Securities, said, "It is uneasy, but efforts by both sides to keep the spark of negotiations alive are continuing," adding, "In the U.S. stock market, optimism for an end to the war is being reflected more than the negative of talks collapsing."
Overnight on the New York Stock Exchange, the Dow Jones Industrial Average ended at 48,218.25, up 301.68 points, or 0.63%, from the previous session. The Standard & Poor's (S&P) 500 index rose 69.35 points, or 1.02%, to 6,886.24, and the tech-heavy Nasdaq composite climbed 280.84 points, or 1.23%, to 23,183.74.