The won-dollar exchange rate, which soared to 1,405 won after former President Donald Trump confirmed his election in the U.S. presidential election, is still trading around 1,400 won today.
In the Seoul foreign exchange market, the won-dollar exchange rate opened at 1,401.1 won and has fluctuated slightly from 1,400 won.It is the first time in seven months that the
won-dollar exchange rate has exceeded 1,400 won since April 16 when the war clouds rose between Israel and Iran and hit 1,400 won during the day.
The market also predicts that the won-dollar exchange rate will rise to 1,420 won within this year due to the strong dollar phenomenon that Trump's pledge will bring.
If tariffs are raised as Trump promised, inflation in the U.S. will rise, making it difficult to cut interest rates, leading to a Trump trade betting on the strong dollar.
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