The Korea Times
The Korean won rose sharply against the U.S. dollar Wednesday, as investors welcomed potential signs of an end to the monthlong war in the Middle East, along with Korea's inclusion in a major global bond index. The won closed at 1,501.3 per dollar, up 28.8 won from the previous session's 1,530.1, snapping a five-day losing streak. Tuesday's level was the lowest since March 9, 2009, when the won closed at 1,549 as the country was grappling with the global financial crisis. The won's strengthening came after U.S. President Donald Trump said Tuesday (U.S. time) he expects U.S. forces to withdraw from Iran within "two or three weeks," adding, "All I have to do is leave Iran, and we'll be doing that very soon, and they'll come tumbling down." Iranian President Masoud Pezeshkian also told European Council President António Costa that Tehran has the "necessary will" to end the war, provided its adversaries guarantee it will not reignite, according to foreign media reports. Overnight, the dollar index, which measures the U.S. currency against six major peers, fell below the 100 level. U.S. stock
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