The won-dollar exchange rate, which had been in the early and mid 1,400 won due to various internal and external issues such as the 12.3 martial law crisis and Trump's inauguration, re-entered the 1450 won range after being closed for the Lunar New Year holiday. On the 31st, the won per dollar in the Seoul foreign exchange market closed at 1452.7 won, down 21.4 won from the previous trading day (the 24th). This is the highest level since the 17th (1458.3 won). On the same day, the won per dollar started at 1446.0 won, down 14.7 won, and gradually increased its decline. It also soared to 1456.3 won at 12:56 p.m. This is attributed to the fact that variables over the holiday period, such as Trump's tariff policy and the U.S. federal announcement of a freeze on the benchmark interest rate, encouraged the dollar to strengthen in the short term. Last night, the dollar strengthened as U.S. President Donald Trump reaffirmed his previous position to impose 25% tariffs on Mexico and Canada from the 1st of next month. In addition, the U.S. Federal Reserve (Fed) maintained its target range for the benchmark interest rate at 4.25% to 4.50% per year at a regular meeting of the Federal Open Market Committee (FOMC) on the 29th (local time). The dollar index, which represents the value of the dollar against the currencies of the six major countries, rebounded after falling to the 106s during the day on the 27th. It is now 108.165, surpassing 108 again. The European Central Bank (ECB) cut its key interest rate to 2.90% from 3.15% per annum the following day. It has cut interest rates four times in a row since September last year. Deterioration in risk preference due to the shock of Chinese artificial intelligence (AI) start-up Dipsyck and the departure of foreign investors from the stock market are also cited as factors for the won's weakness. The won-yen exchange rate was traded at 938.98 won per 100 yen. This is a 16.96 won jump from the standard price of 922.02 won at 3:30 p.m. on the 24th. The yen is believed to be relatively strong as the Bank of Japan, the central bank of Japan, raised its key interest rate from 0.25% to 0.50% on the 24th and left open the possibility of further rate hikes. The yen-dollar exchange rate is now 154.78 yen, down nearly 2 yen from a week ago. Lee Kyung-min, a researcher at Daishin Securities, said, "The FOMC has passed without much change from the existing stance that it is difficult to assess the impact of the policy and freeze interest rates as expected in the market. The normalization process of the interest rate consensus and the reduction of interest rates within this year were adjusted to once in June and December, respectively, and a total of two cuts were used to reverse the anxiety."   (ICE SEOUL)

Fonte notizia: Maeil Business Newspaper