Dollar-Won Exchange Rate Stable in Mid-1370 Range Amid Modest Market Movements

NEW YORK – Overnight trading for the dollar-to-won exchange rate concluded in the mid-1370 range, exhibiting minimal volatility. At 2 a.m. Korea Standard Time on the 29th, the exchange rate was at 1,376.00 won, an increase of 6.50 won from the prior closing rate in Seoul’s foreign exchange market.

Compared to the daytime session's close of 1,376.50 won (9 a.m.–3:30 p.m.), the overnight rate showed a slight decrease of 0.50 won.

The U.S. Dollar Index, which tracks the dollar's performance against six major currencies, continued its upward trend for the second consecutive session, supported by bargain hunting in undervalued positions. The index has been rallying recently and is approaching the critical 100-level mark.

Market Conditions Show Minimal Impact, Dollar Gains on Technical Rebound

Both the London and New York sessions saw limited market catalysts on Monday. In the absence of significant economic data releases or events, technical rebound buying dominated the market following a short-term decline in the dollar.

Despite the overall bearish sentiment regarding “Sell USA” positioning, analysts noted that reduced concerns over the U.S. economy have allowed the dollar some temporary recovery space.

Karl Schamotta, Chief Market Strategist at Corpay, stated, “The swift removal of tariff threats on Europe over the weekend increased risk appetite and reduced pessimism about U.S. growth prospects. Consequently, the dollar has gained upward traction in recent sessions.”

Trade Negotiation Outcomes May Influence Near-Term Dollar-Won Movement

Looking ahead, the dollar-won exchange rate's trajectory is expected to be influenced by the results of ongoing trade negotiations between the U.S. and its key trading partners.

Kevin Hassett, Chairman of the White House National Economic Council (NEC), expressed optimism in a recent media interview, stating, “Several trade agreements are close to being finalized this week. Across various national fronts, additional deals are anticipated to materialize.”

Cross-Currency Market Update

At around 2:40 a.m., the dollar-yen exchange rate stood at 144.866 yen, while the euro-dollar rate was at $1.12949. Meanwhile, the offshore dollar-yuan pair traded at 7.1924 yuan.

In related developments, the yen-won cross rate increased by 0.15% from the previous day to 950.11 won, and the yuan-won rate saw a 0.51% rise, closing at 191.36 won.

Key Intraday Metrics

For the day, the intraday high for the dollar-won exchange rate reached 1,378.00 won, with a low of 1,369.20 won, resulting in a trading range of 8.80 won.

The total spot foreign exchange trading volume during regular and overnight sessions, as reported by Seoul Foreign Exchange Brokerage and Korea Money Brokerage, amounted to $16.38 billion.