The won-dollar exchange rate closed weekly trading at 1,339.2 won at 3:30 p.m. on the 10th. It rose 3.1 won (0.23%) from the prior session's weekly close. By the same measure, it posted the 1,330-won range for two straight days.
The rate opened at 1,340 won and around 9:02 a.m. hit 1,343.4 won (intraday high). It then turned lower and moved below 1,340 won until weekly trading ended. The intraday low was around 11:49 a.m. at 1,336.2 won.
The rate edged up and was in line with parts of the market's view that it could top 1,340 won. The move was seen as driven by a simultaneous rise in global oil prices and U.S. Government Bonds yields as tensions in the Middle East worsened. The won tends to react sensitively to oil prices.
Amid these factors, foreign investors were net sellers of 2.4921 trillion won in the domestic stock market the same day. When foreigners sell domestic stocks and convert into dollars, net selling becomes a factor pushing the exchange rate higher.
Brent crude futures, the global oil price benchmark, settled at $101.21 per barrel on the 9th (local time), the highest since May 22. On the same day, Dubai crude spot prices, which reflect Asia's oil price level, came in at $122, up 11.2% from the previous day. The U.S. Government Bonds 10-year yield, a bellwether for the global bond market, printed 4.85% intraday, the highest since November 2023.
Around the same time, the yen-dollar exchange rate stood at 153.5 yen. From 163.4 yen in late July, it fell into the 153-yen range on the 8th and has held that level.