USD/KRW Hits 1,484.70 Won on July 15, Lowest Since May 11

SKHY-4.98%
SKHYV-0.98%
According to Yonhapinfomax, the US dollar fell to 1,484.70 Korean won on Wednesday (July 15), declining 8.30 won from the previous close and marking the lowest level since May 11. The weakness was driven by a softer US dollar trend globally—June US CPI came in below expectations, reducing expectations for further Federal Reserve rate hikes—combined with heavy foreign stock purchases and SK Hynix's dollar conversion activity. Foreign investors net-bought 2.3 trillion won in Korean equities, including over 2.6 trillion won across all markets, as the KOSPI rallied 6.24%. SK Hynix, which raised $26.5 billion through an ADR listing, is sequentially converting funds for domestic investments, creating downward pressure on the won.
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