Here’s this week’s forecast for the Korean won-US dollar exchange rate from Hana Bank.
The weekly forecast is neither a guarantee nor a promise of accuracy and is intended to give our readers information on the forecasted foreign exchange rate from the bank each week.
Check out the most up-to-date foreign currency exchange rates for over 40 currencies here.
Trading range: 1,145 – 1,155 KRW per 1 USD
This week’s forecast:
A positive forecast about U.S. economic stimulus policy is expected to strengthen risk-on sentiment this week. Nevertheless, vigilance toward U.S.’s policy volatility as well as a fluctuating Chinese yuan will limit the rate’s bottom line
Last week’s trend:
The Korean won-U.S. dollar (KRW-USD) exchange rate opened the week down, due to various risk-on factors including U.S. President Trump leaving the hospital earlier than expected after testing positive for the coronavirus.
At mid-week, risk-averse sentiment strengthened as the U.S. president called off stimulus talks in Congress, but the greenback gained strength later as Mr. Trump signaled support for airlines.
At the end of the week, the KRW-USD exchange rate fell due to a stronger Chinese yuan, closing the week in the low 1,150s.
Disclaimer: Neither Hana Bank nor Haps Korea shall accept any liability for any damage or loss, including but not limited to profit or loss, that may arise either directly or indirectly from use of this information.