The won-dollar exchange rate opened slightly higher.
As of 9:11 a.m. on June 17, the exchange rate in the Seoul foreign exchange market stood at 1510.3 won per U.S. dollar, opening at 1512.4 won, up 0.8 won from the previous session.
This movement is interpreted as reflecting foreign investors' cautious sentiment ahead of the U.S. Federal Open Market Committee (FOMC) meeting.
Foreign investors are showing a selling trend in the domestic market, with net sales of 401.3 billion won in the early trading of the stock market.
In overnight trading, U.S. stocks closed mixed. The Dow Jones Industrial Average rose by 328.64 points (0.64%) to close at 51,999.67.
Meanwhile, the Standard & Poor's (S&P) 500 index fell by 42.94 points (-0.57%) to finish at 7,511.35, and the Nasdaq Composite dropped by 307.60 points (-1.15%) to close at 26,376.34.
International oil prices continued to decline amid ongoing pessimism. August futures for Brent crude fell by 5.1% to $78.96 per barrel.
July futures for West Texas Intermediate (WTI) crude also dropped by 5.8% to $76.05 per barrel.
Min Kyung-won, an economist at Woori Bank, stated, "Today’s exchange rate is expected to attempt a limited decline due to the favorable impact of falling government bond yields, despite cautious sentiment surrounding the FOMC and profit-taking in semiconductor stocks."
* This article has been translated by AI.
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