Exchange rate on rollercoaster ride amid stronger US job recovery

• Published date: 21 February 2023
• Publication title: The Korea Times

The won-dollar exchange rate soared Monday on heightened concerns over the U.S. Federal Reserve's additional rate hikes after the country reported robust job recovery.

The exchange rate closed at 1,252.8 won per dollar, up 23.4 won from the previous trading day, the highest closing price since Jan. 6.

The dollar strengthened in response to the huge gain in the labor market of the world's largest economy. According to data from the U.S. Labor Department, the country's unemployment rate fell to 3.4 percent in January, the lowest level since May 1969.

Seoul stocks end lower amid Fed rate hike woes

2023-02-06 16:48 | Markets

Investors displayed preference for safer assets as a reaction to the stronger-than-expected job report, as it diminished prevalent hopes for an earlier end to the Fed's monetary tightening.

The Korean stock market...