USD/KRW Falls to 1,480-Won Level as U.S. June PPI Declines 0.3% on July 16

According to Yonhapinfomax, on July 16, U.S. producer price inflation data weakened the dollar, with June PPI falling 0.3% month-over-month, below market expectations. Seoul foreign exchange dealers forecast the USD/KRW exchange rate could decline to the 1,480-won level as inflation concerns ease. Foreign capital inflows returning to South Korean equity markets are adding to won-strengthening pressure. USD/KRW 1-month swap contracts closed at 1,485.10 won (mid-price) on New York NDF markets. Dealers expect USD/KRW to trade in the 1,480.00–1,494.00-won range on July 16, with additional downside constrained by dip-buying interest.
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