22.06.202603:57:04UTC+00South Korean Won Remains Under Pressure

The South Korean won weakened to around 1,538 per dollar, remaining under pressure as the US currency stayed firm. Markets continued to price in the risk of further Federal Reserve tightening, while investors awaited key US inflation data later this week for clearer guidance on the interest-rate outlook. Elevated US yields kept supporting dollar-denominated assets, dampening demand for emerging Asian currencies and underpinning broader strength in the greenback. The won also faced additional headwinds from renewed uncertainty in the Middle East, as oil prices climbed amid ongoing US-Iran negotiations and concerns over possible disruptions to energy flows through the Strait of Hormuz. At the same time, South Korea’s exports jumped 60.4% year-on-year in the first 20 days of June, driven by strong semiconductor shipments on the back of robust global AI-related demand, bolstering expectations of sustained foreign-currency inflows from overseas sales.