On Wednesday, the South Korean won depreciated to approximately 1,360 against the dollar, pulling back from the gains of the previous day. This retreat comes amidst ongoing uncertainties over the ceasefire announced on June 24. The market's focus was heightened by reports suggesting that Iran’s nuclear facilities remained unaffected, sparking continued speculation about the potential for renewed tensions and the durability of the ceasefire. Additionally, investors observed the impact of Morgan Stanley Capital International’s (MSCI) annual classification review, also released on Wednesday. The review retained South Korea’s status as an emerging market, with no upgrade in market classification. The global index provider emphasized the necessity for further advancements, such as enhancing the offshore convertibility of the Korean won and addressing persistent issues within the onshore foreign exchange market, all part of South Korea’s ongoing efforts to improve market accessibility.