FX.co ★ South Korean Won Rises on Upbeat Trade Data

The South Korean won has appreciated towards 1,470 against the US dollar, remaining close to its two-month low, driven by robust exports and a continued trade surplus for the second month in a row. Data from March revealed a trade surplus of $4.99 billion, alongside a 3.1% year-on-year increase in exports, reaching a three-month peak of $58.3 billion. Notably, all IT sectors experienced growth for the first time in eight months, despite ongoing trade uncertainties. The Industry Minister emphasized that the government is committed to using "all available resources" to mitigate trade concerns, which includes continuing negotiations with the United States and enacting prompt support measures for domestic industries. Concurrently, political uncertainty remains, as the Constitutional Court is scheduled to announce its decision on President Yoon's impeachment this Friday. On another front, investor apprehensions persist regarding the extent of Trump’s reciprocal tariffs.