The won-dollar exchange rate against the U.S. dollar opened at 1,489.8 won on the 14th. It fell 0.8 won from the previous trading day.
The won-dollar exchange rate was expected to hover around 1,490 won that day. The outlook is that the blockade of the Strait of Hormuz will continue through the end of the month, keeping the dollar on a strong footing. When demand for the safe-haven dollar expands, the value of the won falls and the won-dollar exchange rate rises. The won-dollar exchange rate rose for four consecutive trading days through the previous day.
U.S. President Donald Trump arrived in Beijing, China, on the 13th local time and began a three-day state visit. Before leaving for China, Trump criticized the cease-fire proposal presented by Iran as "trash." He also said he would consider resuming "Project Freedom," which would help third-country ships trapped in the Strait of Hormuz get out.
As U.S. stocks have been setting record highs day after day, the expansion of overseas investment demand by domestic investors is also expected to affect the won-dollar exchange rate. When domestic investors buy U.S. stocks and purchase dollars, the won-dollar exchange rate tends to rise.
On the New York Stock Exchange that day, the Standard & Poor's (S&P) 500 index rose 0.58% from the previous session to 7,444.25, marking both an intraday record high and a record closing high. The Nasdaq index also ended trading up 1.2% at 26,402.34, setting an all-time record.