The won-dollar exchange rate rose to 1,358.6 won at 9 a.m. on the 1st, up 5.8 won, or 0.42%, from the previous trading day’s close, and was expected to reach the high 1,350-won range as the dollar held near a two-month high. Rising U.S. Treasury yields supported the dollar despite softer-than-expected August inflation reducing expectations for an October Federal Reserve rate increase. The August U.S. Personal Consumption Expenditures index rose 3.4% year on year, below the 3.7% forecast, while second-quarter GDP growth was revised to 2.2% annualized from 1.5%. The U.S. 10-year yield exceeded 5.3%, its highest level since May 2002, and the 30-year yield topped 5.6%, its highest since June 2002. Continued dollar selling by major South Korean exporters is limiting the won’s depreciation. Elsewhere, the euro fell nearly 2.5% in September to $1.1330, sterling declined 2.1%, and the yen slipped to 157.82 per dollar but gained nearly 1.5% for the month.