South Korean won rebounds to 1,341 per dollar as oil tops $100

  • South Korean won rose to 1,341 per dollar at 9 a.m. on the 10th.
  • 1,341 won represented a 4.9-won, or 0.36%, increase from the previous close.
  • Brent crude reached $101.21, while the U.S. 10-year yield exceeded 4.85%.

The South Korean won stood at 1,341 to the U.S. dollar at 9 a.m. on the 10th, up 4.9 won, or 0.36%, from the previous session’s close. The currency had ended the prior day at 1,336.1 won, its weakest level in one year and 11 months, before recovering toward 1,340. The move came as Brent crude, the international oil benchmark, surpassed $100 a barrel amid worsening Middle East tensions and as the U.S. 10-year Treasury yield rose above 4.85%. Analysts said the won’s gains could remain limited because strong semiconductor exports may encourage major companies to keep selling dollars for won. Woori Bank researcher Min Kyung-won said steady dollar conversions by companies and the continuing trade surplus were positive for the currency.

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