Dollar Near 10-Day Low as US, Iran Reach Peace Deal
Foreign investors bought a net 982.4 billion won in local stocks as the KOSPI jumped 5.2 percent, supporting the currency's rise.
- On Monday, President Donald Trump announced that the United States and Iran reached a peace deal, raising expectations that the war in the Middle East is nearing an end and the Strait of Hormuz could soon reopen.
- The South Korean won rose to a nearly two-week high Monday, trading at 1,506.8 won per dollar at 9:48 a.m., up 7.9 won from the previous session's close.
- Bolstered by optimism, the Korea Composite Stock Price Index jumped 5.2 percent to 8,545.98, as foreigners turned to net buyers of local stocks for the first time in 25 trading sessions.
- Foreigners bought a net 982.4 billion worth of local stocks, demonstrating investor confidence following the peace deal announcement.
- While global oil prices dropped following the announcement, the stance from Israel regarding the peace deal between the United States and Iran remains unclear.
14 Articles
14 Articles
Korea's currency strengthens on US-Iran peace deal
The Korean won rose to a nearly two-week high Monday after U.S. President Donald Trump has said Washington and Tehran have reached a peace deal. The won opened at 1,511.4 won per dollar, up 8.4 won from the previous session's close, and further gained ground to 1,504 won per dollar at one point in morning trading. In terms of intraday trading, it was the strongest level since June 1, when the won was traded at 1,500 won per dollar. As of 9:48 a.…
Gold pauses recovery as traders await clarity on US-Iran peace deal
Gold (XAU/USD) consolidates on Friday as traders await further developments on a potential US-Iran peace deal. At the time of writing, XAU/USD is trading around $4,200 after climbing to an intraday high of $4,246 earlier in the day. US President Donald Trump said on Thursday that he had canceled planned military strikes on Iran and claimed a peace agreement could be signed as soon as this weekend. Trump’s statement lifted market sentiment, helpi…
Asian currencies rise on Iran-U.S. peace agreement
The won’s USD/KRW pair declined 0.4%, the Singapore dollar’s USD/SGD edged down 0.2%, the yen’s USD/JPY, the yuan’s onshore pair USD/CNY ticked 0.1% lower each, while the Australian dollar’s AUD/USD pair jumped 0.5% Asian currencies firmed on Monday, with the Indian rupee leading gains, as an interim Iran-U.S. peace agreement boosted risk appetite, while investors braced for a week packed with central bank meetings. The Indian rupee led gains, w…
From the Morning News of the Vienna private bank: "The prospect of an agreement between the USA and Iran helped the ATX to a new record high on Friday. From the trade the Austrian leading index went by 3.06 percent more firmly to 6,258.71 points. In the day high the stock market barometer had risen to a good 6,276 units. On a weekly outlook it recorded a profit of 2.9 percent. For the ATX Prime it went up by 2.99 percent before the weekend to 3,…
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