The South Korean won is nearing its weakest level against the U.S. dollar in 17 years. The dollar earlier rose to an intraday high of about 1,559 won on the first trading day of July after climbing to around 1,562 won in June, its highest level since 2009, LSEG data show. The greenback traded at 1,596.90 won on March 6, 2009, the data show. "Strong U.S. employment data and higher interest rates continue to support the U.S. dollar," KB Kookmin Bank FX economist Lee Min-hyeok says in a note. "On the supply-and-demand front, a tug-of-war persists between foreign investors' equity sales and exporters converting dollar proceeds into won," Lee adds.(kwanwoo.jun@wsj.com)