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South Korean won strengthens to strongest level since June 17
The South Korean won rose 30.2 won against the U.S. dollar on Friday after U.S. employment data came in weaker than expected. The currency reached 1,525.6 won per dollar by 3:30 p.m. local time.
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The South Korean won rose sharply against the U.S. dollar on Friday after U.S. employment figures came in weaker than expected. , up 30.2 won from the previous session and marking its strongest level since June 17.
It opened at 1,544.5 won per dollar, already 11.3 won higher than the prior close. The currency had faced pressure in recent sessions over expectations that the Federal Reserve would raise interest rates soon. Weaker U.S.
jobs data reduced those expectations and supported the won's advance. The Japanese yen's gains against the dollar also contributed to the won's movement. Foreign investors sold a net 2.2 trillion won ($1.4 billion) worth of South Korean stocks on Friday.
The benchmark Korea Composite Stock Price Index rose nearly 6 percent to close at 8,088.34.
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