(Seoul = Yonhap Infomax) Reporter Yobin Noh = Foreign exchange dealers in the Seoul foreign exchange market expected the dollar-won exchange rate to continue trying to enter the 1,400 won range on the 16th.
As expectations for austerity toward the US Federal Reserve (Fed) intensify and the dollar continues to strengthen, upward pressure on the dollar and won appears inevitable.
As the exchange rate continues to rise, the dollar buying trend supporting the lower level is also strengthening.
A sense of austerity ahead of next week’s Federal Open Market Committee (FOMC) and confirmation of payment demand might limit attempts to lower the level.
However, ahead of the 1,400 won big figure skating, the vigilant sentiment towards the authorities is expected to intensify. It is expected that actual intervention to control the speed will occur if the ascent speed becomes steeper following breaking through the main level.
Last night, in the New York Offshore Difference Settlement Forward (NDF) market, the dollar-won one-month contract was priced at 1,397.20 won. Considering the recent one-month swap point (-1.20 won), it is 4.70 won higher than the previous spot exchange price in the Seoul Foreign Exchange Market (1,393.70 won).
The expected range of the USD-KRW exchange rate was 1,392.00 to 1,403.00 won.
◇ A bank dealer
Today, the dollar is expected to be strengthened due to risk-offs and a rise in the dollar-yuan exchange rate. Although the USD-KRW exchange rate is a big figure of 1,400 won, there is no change in the upward trend. A sharp rise above the W1,400 level during the day will be limited, but there are no issues that will reverse the strength of the dollar until the US FOMC.
Expected range: 1,396.00 ~ 1,403.00 won
◇ B bank dealer
Yesterday, the authorities’ intervention was strong, and I think it was effective. The NDF may reverse this and start a fresh start, but the authorities may block the level from the morning. However, if it breaks through 1,400 won, it will be difficult to estimate the next upper end. There is no one right to sell the dollar. It can be increased in increments of 10 won.
Expected range: 1,392.00 ~ 1,401.00 won
◇ C Securities Dealer
The upward pressure on the dollar-won continues. It is expected to try to rise by 1,400 won today, but the stance of the authorities is important. There is a high possibility that the government will intervene today. The sentiment is not good, but it is a burdensome situation to pay real wages. Since it has been linked to the strength of the dollar, it is likely that the short-term upper end should be more open.
Expected range: 1,393.00 ~ 1,402.00 won
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This article was served at 08:49, two hours earlier from the Infomax financial information terminal.
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