According to Yonhapinfomax, the USD/KRW exchange rate rebounded to 1,344.50 won on November 11, up 7.00 won from the previous Seoul market close of 1,337.50 won, driven by stronger-than-expected U.S. inflation data and hawkish remarks from Federal Reserve officials.

Fed official Christopher Waller stated that if October's core CPI rises 0.3 percent or more month-over-month, the December FOMC should consider increasing the benchmark interest rate by 50 basis points, warning that a smaller 25bp hike could damage the Fed's credibility. The U.S. Labor Department reported that October's core CPI rose 0.3 percent month-over-month, exceeding market expectations of 0.2 percent, marking three consecutive months of 0.3 percent growth. Overall CPI also rose 0.4 percent, above the expected 0.3 percent. U.S. stock indices declined across the board, with the Dow Jones falling 0.30 percent, the S&P 500 down 0.38 percent, and the Nasdaq Composite dropping 0.74 percent.

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