The won-dollar exchange rate stood at 1,506.2 won per dollar at 9 a.m. on the 10th. It was up 0.1 won from the previous trading day's weekly transaction closing price.
Analysts said the rate could edge lower on the day. That is because risk appetite improved as the three major indexes closed higher on the New York stock market. On the 9th (local time), the S&P 500 rose 0.81% to close at 7,543.64. The Nasdaq Composite climbed 1.3% to finish trading at 26,206.89.
In particular, expectations for a weaker rate are growing on the back of SK hynix's issuance of American depository receipts (ADR). If foreigners are able to trade SK hynix shares on the Nasdaq, it would have the effect of supplying dollars to the Seoul foreign exchange market. Min Kyung-won of Woori Bank said, "With the SK hynix ADR listing, new dollar liquidity supply amounting to $1 billion per day is scheduled."
However, military clashes between the United States and Iran remain a variable. If it flares into war again, demand for the safe-haven dollar could rise and the exchange rate could go up. The U.S. Central Command struck 90 targets across Iran. Iran's Islamic Revolutionary Guard Corps also responded by launching ballistic missiles toward U.S. bases stationed in the Gulf region.