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Won-Dollar Rate Hits 1,501.4 on July 10, Analysts Warn of Sharp Reversal Risk

GateNews
Forex
SK Hynix-15.36%
SKHYV-0.98%
According to Korea Investment & Securities, the won-to-dollar exchange rate reached 1,501.4 won on July 10 amid a broader market rally, but researchers warn of a sharp reversal risk. The analysis notes an unusual divergence: the foreign currency funding market shows abundant dollar supply with negative dollar premiums at historically low levels, yet the forex market exhibits severe dollar scarcity driving won weakness. Researcher Moon Da-woon attributed this to self-fulfilling expectations, where companies and investors expecting rate appreciation accelerate dollar purchases while delaying sales, artificially pushing rates higher. The report identifies potential stabilizing factors including semiconductor export gains, SK Hynix dollar inflows, and government forex measures, suggesting the divergence may reverse when rate expectations shift.
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