The won-dollar exchange rate is displayed at a dealing room of Hana Bank in Seoul, Thursday. Yonhap
The Korean won climbed to a near 14-month high against the U.S. dollar Thursday, as the strength of the Japanese yen weighed on the dollar.
The won was quoted at 1,359.3 won per dollar at 3:30 p.m., up 9.4 won from the close of the previous stock trading session.
It marked the first time since July 3 last year that the won strengthened past the level of 1,360 per dollar.
At one point in morning trading, the Korean currency rose to as high as 1,355.9 per dollar.
The won’s advance came amid market expectations that Japan’s financial authorities may intervene to support the yen, which increased to its highest level since Aug. 7.
Local exporters also appeared to continue to sell dollars as the U.S. currency remained weak ahead of a U.S. employment report.
