Korean won weakens on strong dollar, Trump effect

An electronic board in the trading room of a branch of Hana Bank shows the Korean currency to U.S. dollar in Jung District, Seoul, Nov.

12. Yonhap The Korean currency again fell sharply against the U.S.



dollar Tuesday amid the greenback's continued rise and broader implications of Donald Trump's presidential victory, experts said. The Korean won opened at 1,399.1 won at 9 a.

m., down 4.4 won from the previous session, and slid further to trade at 1,400.

65 won to the greenback as of 9:20 a.m. The Korean won has been hovering around the psychologically important 1,400 against the U.

S. dollar in recent sessions for the first time since mid-April after Trump won the U.S.

presidential election last week. The stronger dollar came as Trump has vowed to impose high tariffs on imported goods and implement protectionist measures and tax cuts, which would lead to an increase in budget deficit, higher inflationary pressure and a slowdown in the Federal Reserve's rate-cutting moves, according to experts. Amid the post-election volatility, the won would possibly slide to the 1,450 level this year, they added.

(Yonhap).