Won weakens toward 1,500 per dollar as U.S. data lift the dollar
The won weakened against the dollar in late trading as investors grappled with a mix of Iranian conflict risks and a batch of U.S. data, while oil prices moved on the back of sanctions news. In the overnight session, the USD/KRW finished at 1,497.50, up 16.30 won from the prior Seoul session close.
During the main trading window from 9:00 a.m. to 3:30 p.m., the pair closed at 1,493.70, about 3.80 won higher than the previous close. Markets saw a wide intraday range, with the dollar touching a high of 1,500.90 and a low of 1,485.70 won before the session ended.
Oil and the broader dollar story evolved as the day progressed. The United States announced a temporary allowance for the sale of sanctioned Russian crude in international markets, which weighed on oil prices early but was followed by a renewed move higher in WTI crude, by roughly 1 percent at times. Alongside, the dollar index rose above 100 as U.S. inflation and employment data remained in focus.
![A One Hundred Dollar Confederate States of America banknote dated December 22, 1862. Issued during the American Civil War (1861–1865).
Slave hoeing cotton in the center with John C. Calhoun on the left and Columbia on the right. Over 670,000 of these notes were issued from August, 1862 to January, 1863. [1]
The bill is 7.375 by 3.125 inches (187 mm by 79 mm) and is thinner than a modern US dollar.
Annotations on the banknote.
Serial number 131615
Keatinge & Ball, Columbia, S.C. (lower left)
Receivable in Payment of All Dues Except Export Duties. (lower right)
Issued by Maj. James Glover, q.m. 26th January 1863 (hand written on back)
Interest Paid to 1st January 1864 at Richmond. (stamped on back) The ink from this stamp can be seen on the front right side.](https://journalkor.site/content/images/2026/03/01_Confederate_100_Dollars.jpg)
In the United States, the Commerce Department’s second estimate for Q4 GDP showed annualized growth of 0.7%, down from the 1.4% pace in the advance estimate. Separately, the January personal consumption expenditures price index rose 0.3% from December, with the core PCE index up 0.4%, both in line with expectations and suggesting inflation remained a factor even before the Middle East tensions.
U.S. job openings data surprised on the upside, with the Labor Department reporting 6.946 million openings in January, above the 6.70 million consensus. The dollar strengthened after these numbers, with the dollar index rising back above the 100 level.
![A five and one hundred dollar Confederate States of America interest bearing banknote. These notes were authorized by the Confederate Congress during the Civil War (1861–1865). The Union banknotes had green printing on the back and were known as greenbacks. The backs of Confederate banknotes were blank and in circulation became a dirty gray. They became known as "gray-backs".
The five dollar banknote shows Minerva, the Goddess of War on the left and George Washington the right. The five maidens in the center represent Commerce, Agriculture, Justice, Liberty and Industry. This note was issued on September 2, 1861 and 58,860 were printed by the Southern Bank Note Company. This was the New Orleans branch of the American Bank Note Company of New York. The bill is 7.125 by 3.125 inches (180 mm by 79 mm) Collectors refer to this note as a Type-31. [1]
The one hundred dollar banknote shows slaves hoeing cotton in the center with John C. Calhoun on the left and Columbia on the right. This note is dated December 22, 1862. Over 670,000 of these notes were issued from August, 1862 to January, 1863. [2] The bill is 7.375 by 3.125 inches (187 mm by 79 mm) and is thinner than a modern US dollar. Collectors refer to this note as a Type-41.
This image was included in the 2011 edition of A Short History of the Civil War by James L Stokesbury. Published by Harper, ISBN 978-0-06-206478-3.](https://journalkor.site/content/images/2026/03/02_Confederate_5_and_100_Dollars.jpg)
Market strategist Sonu Varghese of the Carson Group weighed in, arguing that the January PCE readings indicate persistent inflation even before the current geopolitical tensions, and that the Fed may face a tougher policy path. He suggested the central bank could delay rate cuts in 2026 and might even consider rate hikes later this year, depending on how inflation evolves.
From a currency markets perspective, the dollar was bid against several major peers. The offshore USD/JPY traded around 159.57 yen, while EUR/USD hovered near 1.1443. The offshore USD/CNY stood near 6.9029. In cross-rates, the yen-to-won was about 936.07 won per 100 yen, and the yuan-to-won rate traded around 216.45 won.
Overall, the day’s moves underscore how U.S. macro data, global oil dynamics, and geopolitical risk interact to shape Asia-Pacific currencies, including the won. For U.S. readers, these shifts matter because they influence the strength of the dollar, the cost of imported goods, and the operating environment for American multinational firms with supply chains and markets in Korea and across Asia, as well as expectations for U.S. monetary policy and global inflation. The combined after-hours spot-volume across Seoul’s main interbank platforms totaled about $145.7 billion, reflecting robust global participation in these currency moves.