The Korean won-dollar rate stood at 1,358.3 around 10 a.m. on the 4th, down 1 won, or 0.07%, from the previous trading day’s weekly closing price. The rate rose from 1,356.3 at 9 a.m., while forecasts pointed to fluctuations around 1,350 won. It had closed at 1,359.3 the previous day, its lowest level in 14 months, and some market participants expected that level to hold. The won’s gains were driven mainly by a weaker US dollar after Federal Reserve (U.S. central bank) officials indicated that easing inflation could support a pause in rate increases. Lower US Treasury yields and oil prices, stronger equities and an appreciating Japanese yen also supported the won. Analysts cautioned that cheaper dollars could attract buying demand and that overseas stock investment conversions could limit further appreciation.