The won-dollar exchange rate against the U.S. dollar opened at 1,544.5 won on the 3rd. It fell 11.3 won from the previous transaction day.
The won-dollar exchange rate finished weekly transaction at 1,555.8 won the previous day, then closed at 1,540 won in overnight trading. After that, in the offshore non-deliverable forward (NDF) market outside the foreign exchange market, it is estimated to have fallen to as low as 1,539.7 won. In the market, there was talk overnight that foreign exchange authorities might have intervened.
There is an outlook that the won-dollar exchange rate could reach the 1,530-won level today. That is because U.S. employment indicators were weaker than expected, reducing the likelihood of raising the benchmark interest rate. When the United States raises rates, other currency such as the won tend to weaken.
The U.S. Department of Labor said on the 2nd (local time) that June nonfarm payrolls increased by 57,000 from the previous month. That is less than half of the market forecast of 115,000. Immediately after the release, based on CME FedWatch of the Chicago Mercantile Exchange (CME), the probability that the Federal Reserve (Fed) will raise rates this month fell to below 30%.
Around the same time, the yen-dollar exchange rate was 161.44 yen, up 0.44 yen (0.27%) from the New York foreign exchange market's closing price. The yuan-dollar exchange rate was 6.78 yuan, up 0.02%.