"US-China Trade Deal Boosts KRW/USD Exchange Rate to 1,416 Won"

# U.S.-China Trade Agreement Catalyzes Korean Won-Dollar Exchange Rate Surge to 1,416.0 The Korean won-dollar exchange rate soared to 1,416.0 won following the announcement of a trade deal between the United States and China. On October 13, the Seoul foreign exchange market closed with the exchange rate at 1,416.0 won per dollar, showing a notable increase of 13.6 won from the previous day. The surge was triggered by an accord between the two nations to significantly reduce tariffs. # Tariff Reductions Ignite Market Reaction The U.S. revealed plans to cut tariffs on Chinese imports, decreasing rates from 145% to 30%. Conversely, China agreed to lower retaliatory tariffs on U.S. imports from 125% to 10%. These tariff reductions, perceived as a move towards alleviating trade tensions, quickly impacted the foreign exchange market. # Intraday Exchange Rate Variations The exchanged rate started the day at 1,415.0 won. It fell to a low of 1,408.0 won during the morning session but rebounded strongly, reaching a peak of 1,420.5 won before settling at 1,416.0 won by the end of the day. # Dollar Index Hits Highest Level in Over a Month The same day saw the Dollar Index, which measures the U.S. dollar against a basket of six major currencies, rise by 1.01% to close at 101.615. This represents the index's highest point since September 10, indicating a broader strengthening of the dollar amid easing trade tensions.