FX.co ★ South Korean Won Falls on Tariff Woes

The South Korean won weakened to over 1,430 per dollar on Monday, erasing sharp gains from the prior session as cautious market sentiments re-emerged, fueled by ongoing concerns over U.S. President Donald Trump's tariff policies. Recent developments saw the U.S. Customs and Border Protection announcing exemptions from tariffs on various technology items, such as smartphones, laptops, and other electronics. Nevertheless, uncertainties persist following Trump's Sunday announcement indicating an impending new tariff rate on imported semiconductors in the coming week. He also mentioned potential flexibility for certain sector companies. In South Korea, attention is focused on the Bank of Korea's impending monetary policy decision later this week. The central bank had previously reduced its base rate by 25 basis points to 2.75% in February 2025, marking the third rate reduction within four months.