FX.co ★ South Korean Won Rebounds

The South Korean won strengthened to around 1,540 per dollar, rebounding sharply after approaching its weakest level since 2009, as softer-than-expected US June employment data pressured the dollar. The report bolstered expectations that the Federal Reserve may begin easing monetary policy in the coming months. At the same time, the won found additional support after South Korea's foreign exchange reserves unexpectedly rose to $427.4 billion in June despite market-stabilization operations, signaling robust external buffers and enhancing confidence in the country's capacity to manage currency volatility. Investors also tracked the government's efforts to steady the foreign exchange market after authorities announced a KRW 14.9 trillion package of loans and guarantees for small and medium-sized enterprises hit by recent currency swings.