Here’s this week’s forecast for the Korean won-US dollar exchange rate from KEB Hana Bank.
The weekly forecast is neither a guarantee nor a promise of accuracy and is intended to give our readers information on the forecasted foreign exchange rate from the bank each week.
Check out the most up-to-date foreign currency exchange rates for over 40 currencies here.
Trading range: 1,158 – 1,170 KRW per 1 USD
This week’s forecast:
The U.S. and China’s comments on the possibility of reaching a trade deal strengthened the market’s risk-on sentiment and is expected to bring an upward trend to the New York stock exchange. However, the greenback is forecast to strengthen to a limited extent until an actual consensus is reached at the trade negotiations.
The KRW-USD exchange rate is expected to remain at the 1,160 level this week.
Last week’s trend:
The Korean won-U.S. dollar (KRW-USD) exchange rate opened the week up, due to issues such as U.S. President Trump denying the U.S.-China’s deal to roll back tariffs. Intensifying protests in Hong Kong also strengthened the market’s risk-averse sentiment.
At mid-week, while Trump’s theoretical announcements about the U.S.-China trade talks enlarged the air of anxiety across Asian financial markets, the KRW-USD rate rose due to hawkishness resulting from issues such as the Fed signaling it was unlikely to approve further cuts.
The KRW-USD rate ended the week down, moving in line with the strong renminbi amid a positive outlook by White House officials about the U.S.-China trade talks.
Disclaimer: Neither KEB Hana Bank nor Haps Korea shall accept any liability for any damage or loss, including but not limited to profit or loss, that may arise either directly or indirectly from use of this information.