S.Korean currency drops on dollar after positive U.S. jobs data

South Korea's currency dropped versus the U.S. dollar Monday to trade at the six month low as the dollar appreciated to major currencies after the release of positive U.S. jobs data.

The won/dollar exchange rate opened the trading at 1,074.9 won per dollar, rising above the 1,070 won level for the first time since March 28. It was quoted at 1,069.5 won as of 10:50 a.m. local time, up 8.1 won from Friday's close.

The strong dollar trend became solid further after U.S. non- farm payrolls increased 248,000 in September, beating market expectations. The jobless rate declined to 5.9 percent last month, marking the lowest since July 2008.

The yen/dollar exchange rate gained to the late 109 yen range, and the dollar/euro rate declined to the early 1.25 dollar amid the global dollar appreciation.

The positive U.S. jobs data confirmed recovery of the world's largest economy, boosting expectations that the U.S. Federal Reserve may raise interest rates earlier than forecast. Market watchers widely expected the Fed to raise its policy rate in the second half of next year.