On the 17th, the won/dollar exchange rate is expected to continue to decline on the weak dollar and easing anxiety. /Photo = Reuters One/The dollar is expected to continue to decline on the weak dollar and easing anxiety.
On the 17th, Kiwoom Securities predicted that the 1-month U.S. dollar for difference futures contract would start at 1223.59 won, down 13 won.
Kim Yu-mi, a researcher at Kiwoom Securities, analyzed that the dollar fell as a result of a press conference by Federal Reserve Chairman Jerome Powell, who made a somewhat dovish statement along with the first rate hike at the US Federal Open Market Committee.
He explained that the US FOMC in March lowered the growth forecast saying that it had raised the interest rate by 25bp as expected by the market, while raising the inflation forecast and adjusting the dot chart to seven rate hikes this year.
However, he added that the market was relieved when Fed Chairman Powell said that the economy would be good despite interest rate hikes and that inflation would gradually stabilize downward, adding that the dollar fell as financial market risk aversion eased.