Won Weakens Against Dollar on Higher US Yields Concerns

The South Korean won weakened against the US dollar on Thursday due to lingering concerns over higher US Treasury yields.

The won was quoted at 1,358.4 per dollar at 3:30 pm, down 5.6 from the previous close.

This weakness occurred despite a key US inflation gauge showing a less-than-expected gain in August, which had lowered expectations.

However, the 10-year US Treasury yield rose above 5.3 percent, reaching its highest level in about 24 years.