USD/KRW Falls to 1,477.60 Overnight as U.S. Tech Stocks Rebound

NDAQ-1.11%
BLK0.40%
According to Yonhapinfomax, the USD/KRW exchange rate fell 0.90 won to 1,477.60 won during overnight trading on July 21 (Korea time), as risk appetite returned to markets following a rebound in U.S. technology stocks. The Nasdaq Composite index rose for the first time in three trading days, while the Philadelphia Semiconductor Index advanced after four consecutive days of declines. Jean-Benoît Boulanger, managing director at BlackRock Investment Institute, noted that geopolitical tensions in the Middle East have weakened the macroeconomic environment but have not changed the firm's risk-on stance. Reports of a proposed 10-day ceasefire between the U.S. and Iran also helped stabilize oil prices.
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