(Seoul = Yonhap Infomax) Reporter Noh Yo-bin = Foreign exchange traders in the Seoul foreign exchange market expected the exchange rate won by the dollar to float around 1,380 won on the 19th.
The strength of the dollar appears to be taking a break as the US inflation expectations index came in lower than expected last week. Furthermore, the USD-KRW was frozen as the volume, presumably due to the strong real intervention of the currency authorities, was confirmed.
In view of the Federal Open Market Committee (FOMC), one of the biggest events of the week, the attempt to raise the level, which once approached 1,400 won, appears to have been defeated. However, the decline in the level is expected to be limited due to fears that the FOMC interest rate hike may be higher than initially anticipated.
Last night, the one-month dollar contract was priced at 1,384.00 won in the New York Offshore Difference Forward (NDF) market. Considering the recent one-month trading point (-1.15 won), it is 2.85 won lower than the previous spot price of the Seoul foreign exchange market (1,388.00 won).
The expected range of the USD-KRW exchange rate is expected to be between 1,377.00 and 1,390.00 won.
◇ A bank merchant
The dollar index fell last week following US inflation expectations. As both the vigilant sentiment ahead of the FOMC during the week and the vigilance of the currency authorities are working, the FOMC is expected to resume after the FOMC is terminated after remaining in the 1,380 won median level. As demand for payment continues to emerge, it remains to be seen when the volume of negotiations will be released ahead of a weekly meeting with exporters.
Expected range: 1,380.00 ~ 1,389.00 won
◇ Concessionaire bank B
The exchange rate won by the dollar dropped sharply to Friday’s closing price due to government intervention. Since then, the NDF has risen, but has fallen back to the 1,380-won level. There is no great material ahead of the FOMC as the authorities continue to block the summit during the day. It appears that attempts to raise 1,400 won by confirming intensive intervention will be limited.
Expected range: 1,382.00 ~ 1,390.00 won
◇ Bank C dealer
The close of the previous trading day is the top of the dollar won today. We expect the range to be a bit off the 1,400 won range. Here it remains to be seen whether the level will solidify on the corrective flow or whether real dollar demand will flow in. It seems difficult to lower the level of the volume of pending negotiations, but we are paying attention to what the government intervention position will look like at the level of the 80 won. It seems unlikely that the level will drop much earlier than the US FOMC, but the euro has regained parity and the yuan has fallen slightly. It seems to start with around 1,380 winners in the upper-middle range.
Expected range: 1,377.00 ~ 1,387.00 won
[email protected]
(End)
This article was posted at 08:41, two hours earlier on the Infomax financial information terminal.
Copyright © Yonhap Infomax Unauthorized reproduction and redistribution prohibited
–
