Dollar-Won Exchange Rate Increases Due to Trump’s Tariff Threat, Closes at 1,467 Won

# Dollar-Won Exchange Rate Rises Following Trump's Tariff Threats New York (Yonhap) – Choi Jin-woo, Yonhap Infomax Correspondent – The dollar-won exchange rate surged in overnight trading, closing at 1,467 won as a result of tariff threats from U.S. President Donald Trump. At 2 a.m. Korean time on the 22nd, the dollar-won exchange rate ended trading at 1,467.00 won, up 8.10 won from the previous close in the Seoul foreign exchange market. Compared to the closing rate of 1,462.70 won during regular trading hours (9 a.m. to 3:30 p.m.), the rate rose by 4.30 won. Entering the New York market at around 1,462 won, the dollar-won exchange rate began to climb following President Trump's tariff threats. President Trump posted on his social media platform, Truth Social, at around 9 p.m. Korean time, stating, "April 2 is America's Liberation Day," and "It's time for America to get back its money and respect." He further noted, "For decades, the U.S. has been deceived and abused by all countries, allies, and adversaries alike." April 2, mentioned by Trump, is the date he has proposed for imposing reciprocal tariffs on trade nations. Following Trump's comments, the dollar-won exchange rate surged to 1,467 won. The Dollar Index (DXY), which reflects the value of the U.S. dollar against six major currencies, also surpassed the 104 mark. George Vesey, Chief Foreign Exchange and Macroeconomic Strategist at Convera, remarked, "As long as President Trump does not throw another curveball, the recent rebound in the dollar is likely to gain some support as a safe-haven asset." Chris Weston, Head of Research at Pepperstone, commented, "As we approach April 2, the date for imposing reciprocal tariffs, market participants are increasingly likely to reduce dollar short positions and adopt a more neutral stance." Later, President Trump addressed reporters in the Oval Office, his White House office, stating, "There will be some flexibility on tariffs," but emphasized, "fundamentally, it has to be reciprocal." When asked if exceptions would be considered, he replied, "If we give it to one, we have to give it to all." At around 2:25 a.m., the dollar-yen exchange rate stood at 149.169 yen, while the euro-dollar exchange rate was at 1.08110 dollars. The offshore dollar-yuan (CNH) exchange rate hovered around 7.2587 yuan. The yen-won cross rate was 982.02 won per 100 yen, and the yuan-won exchange rate was 202.06 won. On this day, the intraday high for the dollar-won exchange rate was 1,469.50 won, and the low was 1,460.50 won, with a fluctuation range of 9.00 won. The total spot foreign exchange trading volume until the nighttime session was reported to be 12.793 billion dollars, combining transactions from Seoul Foreign Exchange Brokerage and Korea Money Brokerage. jwchoi@yna.co.kr