FX.co ★ South Korean Won Gains Amid Dollar Weakness

The South Korean won strengthened to approximately 1,358 per dollar on Monday, continuing its upward trajectory as the US dollar weakened due to fiscal uncertainties and the upcoming US jobs report on Thursday, which is anticipated to indicate further cooling in the labor market. Investor confidence was bolstered after trade envoy Yeo Han-koo returned from Washington, where he engaged in the first high-level tariff discussions since President Lee's inauguration in June. The goal of these talks was to negotiate US exemptions from tariffs on steel, automobiles, and reciprocal items before the deadline. Domestically, retail sales in May remained unchanged compared to the previous month, following a 0.9% decrease in April, highlighting persistent challenges in consumer demand despite the recent strength of the currency.