TokyoTokyo Mon - Fri 10:00-18:00 +81 (368) 662-975

Dollar set to continue rally against won

Mount Equity Group Tokyo, Japan > News > Markets > Dollar set to continue rally against won

“The won-dollar exchange rate will remain at a high level of around 1,180 to 1,205 won until the BOK’s next rate that could possibly happen in November,” the analyst said, adding one key reason behind the prediction is the imminent announcement of the U.S. Fed’s tapering during the Federal Open Market Committee meeting slated to be held on Nov. 2 and 3.

BOK Governor Lee Ju-yeol said last week during a National Assembly audit that the bank’s possible November rate hike won’t have a negative impact on the real economy, adding that he would keep a closer watch on the foreign exchange market, as the level of the recent surge in the exchange rate here was wider than seen in most other countries.

Read more…