The Korean won traded at 1,346.8 per U.S. dollar at 9 a.m. on the 7th, down 3.6 won, or 0.26%, from the previous trading day’s weekly closing price. The exchange rate could rise during the session as stronger-than-expected U.S. employment data increases the possibility that the Federal Reserve (U.S. central bank) will raise its benchmark interest rate in September. U.S. nonfarm payrolls rose by 162,000 in August, the largest increase in five months, suggesting the economy remains resilient. The won’s rapid recent strengthening may also encourage dollar buying at lower prices, including demand linked to Korean retail investors investing in U.S. stocks, known as Seohak ants. Min Kyung-won, a Woori Bank researcher, said a rising dollar index could curb the won’s strength and that importers’ low-price dollar purchases and residents’ overseas-stock investment demand could lift the exchange rate. Dollar selling by major domestic exporters, however, could limit the increase by supporting the won.