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(T
Hana Securities: The won will weaken further in the near future
Sina Financial News Hana Securities said in a report that the South Korean won Exchange Rate against the dollar is currently hovering at a 17-month low and may weaken further in the short term. Risk aversion continues to push the dollar higher amid renewed tensions in the Middle East and waning hopes of an early U.S. interest rate cut after stronger-than-expected economic data. Strong demand in the US dollar for foreign investors to repatriate dividends in April could also weigh on the won further. Earlier today, USD/KRW touched the 1400 level for the first time since Nov. 7, 2022, and was trading at 1384 late Monday in the Seoul onshore market.