The won-dollar exchange rate opened lower but showed mixed trends in the 1500 won range.
As of 9:55 a.m. in the Seoul foreign exchange market, the exchange rate for the Korean won against the U.S. dollar was 1500.1 won. The rate opened at 1493.8 won, down 6.5 won from the previous session.
The slight decline in the value of the dollar and mixed performance in the New York stock market are believed to have influenced the rise in international oil prices.
In the New York stock market, the Dow Jones Industrial Average closed up 159.95 points (0.32%) at 49,686.12.
The Standard & Poor's (S&P) 500 index fell 5.45 points (0.07%) to close at 7,403.05, while the Nasdaq Composite index dropped 134.41 points (0.51%) to finish at 26,090.73.
Concerns over the prolonged conflict in the Middle East have contributed to the continued rise in international oil prices. The July futures for Brent crude rose 2.60% to $112.10 per barrel, while West Texas Intermediate (WTI) crude futures increased by 3.07% to $108.66 per barrel.
The dollar showed weakness, with the dollar index, which measures the value of the dollar against major currencies, falling by 0.33% to 99.03. This decline is attributed to stabilizing U.S. Treasury yields.
U.S. Treasury yields stabilized after a sharp rise during the trading session. The yield on the 10-year Treasury note surged to 4.659% in after-hours trading but closed at 4.591%.
The exchange rate is expected to decline further due to comments from President Donald Trump regarding his decision to postpone military action against Iran.
Min Kyung-won, an economist at Woori Bank, stated, "The active selling response from heavy industry and export companies is likely to widen the decline in the exchange rate. The expectation of progress in negotiations, as President Trump indicated he is engaged in serious talks with Iran, is also positive for the won."
* This article has been translated by AI.
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